AUD vs NZD TK Dis Equilibrium

FX:AUDNZD   Australian Dollar/New Zealand Dollar
Looking at the AUD vs NZD on the daily time frame we cans see strong signs of bearish momentum on the short term. First we notice how far apart Tenkan and Kijun are from each other. They do not like to travel far apart from each other and represent possible reversal or ranging. In this case I am looking at the reversal side as price has traveled too far from the Kijun which represents the market being overextended and out of equilibrium. Price tends to come back too Kijun and the market gets back into equilibrium. Price has violated bearish fractals on the 4 hour time frame and the daily has violated the most previous bearish fractal . Once price violates bearish fractals this is a sign of bearish momentum and shows the direction of the market also.
As far as Ichimoku is concerned we should be sitting on the sidelines and waiting for the continuation but I am looking at the counter trend move. Ichimoku signals are all bullish but again look at the future and you see the thickness representing volatility in the market. I am waiting for price to violate the previous bearish candle low and I will enter short with a target at the daily Kijun support level . My SL is slightly above the Tenkan level. We will know we are wrong if price moves higher and violates the Tenkan, at which point we will re-evaluate our plan. Get more of my analysis at Have a great trading day and God bless!
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