FX:AUDUSD   Australian Dollar / U.S. Dollar
I'm seeing a possible swing entry here. Price came from a third touch of a medium-term trendline (validating it), created a flag; a way of trapping sellers into thinking it will be a continuation of the preceding impulse. However, on the third touch of the support trendline of that pattern (also being validated), a possible Head and Shoulders pattern formed (possible because it hasn't been validated by a break and retest of its neckline). This continuation as well as the third medium-term trendline touch further confirm my buy notion. What will validate this entry is a cross and retest of the Head and Shoulders neckline, for which I will be holding until the weekly resistance level.
Order cancelled:
setup invalidated

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