AUDUSD False Break !

Daily Chart : Large Engulfing bar is rejection at key resistance level , strong bearish momentum

4 Hours Chart Plan

A. wait for retest 0.7279 to confirm the “head & shoulders pattern”

  • reversal pattern , pinbar , engulfing bar at 0.7279
  • sell target zone 0.7083 – 0.7040

B. No sign of reversal at key resistance level 0.7279 = no trade and see bullish signal again



Warning: Before any investment in Forex you need to carefully consider your targets, previous experience, and risk level. FX trading can result in the loss of your money, therefore, you should not invest capital that you cannot afford to lose.