Is the uptrend over for AUDCAD? Head and Shoulders in the making

As you can see, the chart is creating a Head and Shoulders pattern, signifying that the uptrend is almost over. But, are we going to short it immediately? NO. We are going to patiently wait for the pattern to break its neckline labeled above. After the H4 break, you can actually short it immediately for a momentum play OR you can wait for a retest of that neckline. The choice is yours.

Disclaimer: Copy this trade at your own risk!