The M5 and M15 time frames may have more false entry points.
FX.co ★ AUDUSD M5: Head and Shoulders
Signal strength 1 of 5
AUDUSD M5: Head and Shoulders
According to the chart of M5, AUDUSD formed the Head and Shoulders pattern. The Head’s top is set at 0.6379 while the median line of the Neck is found at 0.6369/0.6369. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of AUDUSD will go towards 0.6354.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade