AUDUSD has seen a decent sell off from a high resistance area & I believe further downside is imminent. Would set sell order higher up as I believe a small bull trap to this point may occur & more importantly, taking a trade with less than 1:1 RR is not advisable (would be the case if you just opened a sell here). Sell order is placed on the potential second shoulder of a very wonky head and shoulders formation. Please note, I will not be taking this trade personally as I am not trading counter-trend setups at this point.
This is a short setup in a potential bullish head and shoulders that will form if target 2 on this trade is hit. Please see related idea for more info on the more medium term long setup that may occur.
Komen
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idea is invalid now, but longer term scenario playing out well