AUDUSD - Multiple Confluence SHORTS

The last time we analysed AUDUSD, we thought it was making an impulsive break but turns out it was a corrective break which is why we are in an ascending parallel correction at the moment. Within that correction, we can see a head and shoulder pattern (see chart below) which often forms at the end of a trend, signalling that a trend reversal may be taking place.

Easiest way to get into this trade is to wait for bear flags that reach a significant key level and enter on break of the correction.

See chart below for the bigger timeframe and lower timeframe (where we can see the head and shoulder pattern)

Goodluck and trade safe!

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Daily:

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Head & Shoulder: