AUDUSD has been showing multiple reversal signs on both the 4 hour and 60 min charts for the past week.
The 4 hour shows a large reverse HS pattern occurring and nearing its end - a long term trade will see the break of the 4 hour resistance line around the .725 mark.
Currently price on the 60 min is pushing down to the .715 mark, forming the bottom of the right shoulder pictured here. A good place for a small long entry, with opportunity to enter more into the trade upon breaking the 4 hour resistance.
The 4 hour shows a large reverse HS pattern occurring and nearing its end - a long term trade will see the break of the 4 hour resistance line around the .725 mark.
Currently price on the 60 min is pushing down to the .715 mark, forming the bottom of the right shoulder pictured here. A good place for a small long entry, with opportunity to enter more into the trade upon breaking the 4 hour resistance.