long for wave c of correction
or expanding flart (which will give false break of head and shoulders pattern) it will still turn down. for higher degree c wave.
sorry chart looks a bit cluttered but you`ll get the general idea behind my thinking.
nice entry for a possible big trade - with only a 14 pip sl atm --- if the pattern is wrong its wrong right there. worth the risk for the potential reward and this is one of the only euro pairs that hasnt moved that much yet -- this could be the same as eurcad - euraud - etc (for 14 pips risk)
Short idea on audusd - I cant explain every detail on here but hopefully you get the jist of it.
look for entry on the 1 min time frame and you will get a better risk reward - you will also see over sold or divergence on that time frame if you are not confident of pattern recognition.