AUD/USD Inverse Head and Shoulders
Since the beginning of the week up to this point the 1H chart has been creating a series of rebounds to create an inverse head and shoulders pattern. The neckline is running in at 120 pips which creates potential for a 120 pip trade after breaking the resistance.
Note
Neckline is holding as resistance but bullish triangle is forming.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.