Could this unfold with AU200 ?

A scenario, no more at this stage. Looking at this AU200 daily chart a potential scenario which may unfold is shown on the chart as long as support at current levels are found.Failure at current levels is likely to see a retest of the most recent low marked as “HEAD” of the anticipated pattern negating the first scenario.

Important to see this  ( potential inverse H&S ) in the context of next higher time frame weekly, as well as the line of least resistance.

What would we have if we see a successfully completed inverse head and shoulders continuation pattern ( where would the target of this pattern be ) and what would that give us in the up sloping distribution schematics published little while ago if the weekly chart is examined ?

I hope I make sense and have fun.

FREE chart is courtesy of trading view.com

au20003032018

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