I thought this was an interesting lesson in "Fractality" of markets. The idea that patterns exist within patterns. The "Fractal" nature of markets. If you examine a snowflake is it made up of smaller versions of itself, much like a head of broccoli, you pluck off a small piece that is simply a small version of the larger one - enter fractals.
I have included 4 charts here: daily, 4 hour, hourly and a monthly. Same broker feed and currency pair.
I am in this Aussie short and have structured my trades to take advantage of a drop and then a longer term swing to the downside. I have a couple take profit points where the trade is free to run securing profits (if I'm correct) all the way down.
Daily: I have posted my idea already, I'm short, on open it gapped down but we will see.
4 Hour: You can see another head & shoulders pattern within the daily arrangement.
1 Hour: you can see yet another Head & Shoulders pattern with price swiftly dropping below neckline, guessing a retest and to drop away.
Monthly: I included because I see a bearish flag developing...more so just a chat about downside on this one plus I see the further take profit areas will be in the weeks till these trades mature.
Let me know what you think as I try to only pick patterns that are less "subjective" and leaning toward objective...this whole game is quite subjective...open to discussion.
Seeing ALL of these charts are below their 200 EMA's - that is a notable fact.