AUDUSD potential reversal pattern

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It is no secret that the AUDUSD pair has been in a strong uptrend for quite some time. That trend has been capped recently at 1.0200. My thoughts now turn for reversal possibilities. There has already been a break of the daily trend line established back in August. Before the last high a former resistance area was found from the 0.9900 to 1.000 zone. If this duplicates on the right side of the high it could form a head and shoulders reversal pattern and the beginning of a leg down. Using this overall outlook I will begin to drill down to smaller compressions and look for entries for sells between the 0.9900 and 1.000 zone. Fibs of the last run down on the

Sell AUDUSD at .9190

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Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! Sell posted to TAP at 10:15am ET sell AUDUSD at .9190. Retesting previous highs on the daily chart. Looking for potential double top reversal. Watch for smaller compression indicators of trend reversal to confirm double top. If this is…

AUDUSD Sell at .9285

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Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! Trade posted to TAP at 8:58am ET. Sell AUDUSD at .9285. Trade based on 4 hour trend line break and retest. There is also historical resistance at this same area between .9283 and .9293. Bottom fib level from the…

AUDUSD Sell at .9192

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Trade posted to TAP at  10:55am ET. Sell AUDUSD at .9192. Technical confirmations: Potential 4 hour head and shoulders, resistance and support at 9190, fib of previous downtrend on the 1 hour chart.

AUD/USD Chart Picture