Is the short movement coming on AUDNZD ? by ThinkingAntsOk
Main items we can see on the chart:
a) The price has broken a bearish Structure (ABC pattern)
b) After the breakout, we can see a pullback (current structure)
c) Based on these circumstances we expect a bearish potential towards the next support zone
d) If you are interested in trading this, the current structure is a good spot / If you want further confirmation, you can wait for the price to fall and then wait for corrective structures on the 30min chart.
a) The price has broken a bearish Structure (ABC pattern)
b) After the breakout, we can see a pullback (current structure)
c) Based on these circumstances we expect a bearish potential towards the next support zone
d) If you are interested in trading this, the current structure is a good spot / If you want further confirmation, you can wait for the price to fall and then wait for corrective structures on the 30min chart.