Hello traders.
AUDUSD has current formed a beautiful W structure. The price is currently testing the neckline resistance which is marked in red circle. From here the possible scenario could be:
1. If it rejects from the neckline, we can see a strong bullish move to the up side and we can book our profits as shown.
2. If it breaks the neckline, we can see a continued bearish more to fotm a triple bottom structure and then a huge bullish move.
So what next? What for the price to finish its move near the neckline and act accordingly as said above in case 1 & case 2.
For precision, trade entry in intraday time frames.
Good luck for your profits. 👍