AUDUSD Last week fall until the lowest price on 2018, and close on friday as an Engulfing candle.
Confluence on AUDUSD: 1. Daily candle close as engulfing candle. 2. Broke the downtrendline. 3. Price rejecting 50 fibs level on higher timeframe. 4. On the h1 timeframe possibly h&s pattern.
The scenario I will take a trade if price go to 50 fibs level on h1 timeframe as also make right shoulder of h&s pattern (Aggresive).