AUD/USD Day Trading using Futures Contract 6A

AUD/USD Day Trading Weekly Chart

1.0360, is the price  Aussie never close above for few months.

Right now Aussie are looking to make an H&S ( Head and Shoulders pattern). After failing to keep price above 1.0360 , Aussie price start to fall. the second shoulder should be at the same price as 50MA. I’m looking for AUD/USD price bounce at this level.

AUD/USD Day Trading 480min Chart

Here we have an “M” pattern. Right now, we are in a consolidation zone, and even better Aussie price are between MA50 and MA200. Depending if we bound or pass the double bottom of “M” pattern we will get are direction. If we Close under this double bottom, I’m looking to go till my 3rd Short target. This way we will get H&S pattern on weekly chart.

Short: Is what I’m looking for. nothing compicated, for short , just look with how much stengh sellers will pass the double bottom price.  Targets: 1.028 – 1.026 – 1.021 

Long: If you looking to take this trade, wait till sellers return to the double bottom. If sellers try with lower volume than last time, it can be a very good Long trade. Targets: 1.034 – 1.035 – 1.038