These days we have reached the TP2 of the SHS.
former Analysis:
New Cyclical Low?
The neckline Support turned into a resistance. The main trend is still bearish. With Prices less than 0.726 i exspect the next downwave to my max. target shs @0.7036
The Chart only turns bullish with Prices above 0.7462
AUDUSD reached Target1 TP1
The Pair reached TP1, the min. target of the shs. Now target 2 @ 0,7 can be aimed.
Retest neckline?
The H&S is triggered. The neckline is based at the "2" - a break of it a nice 1-2-3 pattern (www.tradingview.com/...2-3-Trading-Pattern/) IMO a retest of the neckline should be exspected before the final "sell-off" comes.
A retest is typical for H&S and a good entry for shorts for those who have missed the train. :-) Perhaps this could be a nice example for a Ross Hook.
former Analysis:
New Cyclical Low?
The Chart only turns bullish with Prices above 0.7462
AUDUSD reached Target1 TP1
Retest neckline?
A retest is typical for H&S and a good entry for shorts for those who have missed the train. :-) Perhaps this could be a nice example for a Ross Hook.