Somelio

Somelio

When analyzing the AUD/USD pair across different timeframes, we observe significant confluence, indicating a consistent pattern in market movement. A review of the chart, accessible here reveals a bearish trend since 2020. This trend is characterized by a descending channel, validated by at least five tests of its upper and lower boundaries, underscoring the...

Somelio

The classical interpretation of the Head and Shoulders pattern involves identifying three peaks, with the middle peak (the head) being the highest, flanked by two lower peaks (shoulders) on either side, all followed by a neckline break. This break is typically viewed as a bearish signal. However, when a 'failed' Head and Shoulders pattern occurs – characterized...