AUDCHF - H&S update - 2nd Shoulder seems to be forming on the 1H

Earlier today I mentioned a possible Head and Shoulders, difference is, I was hoping for a touch at the 61% fib, it seems we are about to reverse movement.

I am now watching for a sell entry. If I fail to entry here, I'll keep my eyes open on the neckline, chances are that we get a fakeout first and then the drop below the neck.

Comment:

This ongoing candle closing above 0.6283 would imply a upwards movement.

I'll open a Sell if the 4H candle closes under 0.62545.

SL would be just above 0.6283 and the TP1 (close 50%) at the neckline and let the rest run down the usual H&S pattern.

Cheers Fellas

Trade closed: stop reached:

SL hit.