MrB_

Potential Head and Shoulders reversal

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
After a long bearish trend it finally seems to be stalling whilst forming a potential head and shoulders reversal pattern. I will wait for price to break the neckline at around 0.75715, retest this area before trying to find an entry for the continuation. Targets found from the distance from the peak of the head to the neck line and then extended from the neck line up which falls in line with previous structure at the 0.77135 area.
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