nakedchartist
Short

AUDNZD potential top of ED channel

FX:AUDNZD   Australian Dollar/New Zealand Dollar
I am very interested in this big pattern play.
ON Day Chart there is a huge ed channel, near fib5 retracement of a large downflow.
Purple box denotes a 4 weeks flat high. I am monitoring for a sign of bull trap/ distributive chart pattern to short this when it goes below this 4 weeks high level.
on h1 i see a rising channel with higher high, but yet on the rsi ( my preferred is macd ) , instead i see a lower low.
There is a possible pincer channel so I am watching this cricle to get in with a small SL.
nakedchartist
2 years ago
this one kept going up and up, I have got this bias wrong, but there was no trigger. There was no setup to go long as well so i guess not that bad.
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