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I don’t typically like to identify a trending pattern like a channel or wedge as “continuation” or “reversal” but I will take it under advisement.
The 60 minute AUD/USD has a nice looking pattern set up as the uptrend (see chart below) is a perfect environment for a trending pattern play. There are clues on the Autochartist pattern alert that could indicate a potential reversal. For one, the low Initial Trend reading is not one that would typify a strong trend. However since the trend is up (12 to 2 o’clock Wave angle) then I will consider the trend follow first and then only if prices breakd down through the uptrend line support and/or the bottom like of my Wave (34ema low) will I consider a trend reversal.
The trend follow could be set up either off the top line of the Wave (34ema high) or the uptrend line of the channel up pattern.
I always combine my Wave analysis with chart patterns since the best patterns are those that are occurring in the correct market cycle.