AUDNZD | A Possible Breakout Trade
Hi,
AUDNZD making a breakout from the bearish chart pattern called Rising Wedge.
The bounce came from a pretty strong area. I have observed it since the August end.
The selling area should be the marked red area, criteria:
1. We have a breakout from the bearish chart pattern called Rising Wedge.
2. Breakout from the short-term triangle
3. Tripple top formation
4. Bearish candlestick pattern indications from the Daily and from the 4H timeframes.
5. Those bearish candlestick patterns came from a pretty strong area which stays around the round number 1.07000
Wait for a confirmed breakout and the good entry zone should stay inside the marked red area. Perfect would be a trendline retest.
Do your own research and if this matching with mine then you are ready to go!
Good luck,
Vaido
AUDNZD making a breakout from the bearish chart pattern called Rising Wedge.
The bounce came from a pretty strong area. I have observed it since the August end.
The selling area should be the marked red area, criteria:
1. We have a breakout from the bearish chart pattern called Rising Wedge.
2. Breakout from the short-term triangle
3. Tripple top formation
4. Bearish candlestick pattern indications from the Daily and from the 4H timeframes.
5. Those bearish candlestick patterns came from a pretty strong area which stays around the round number 1.07000
Wait for a confirmed breakout and the good entry zone should stay inside the marked red area. Perfect would be a trendline retest.
Do your own research and if this matching with mine then you are ready to go!
Good luck,
Vaido
Comment:
Trade closed: target reached:
