KVE
Short

AUD/NZD: Descending triangle could signal downtrend continuation

FX:AUDNZD   Australian Dollar/New Zealand Dollar
139 1 7
This pair is in a strong downtrend and could be on it's way to complete a possible bullish bat (see linked idea) as shown in the daily chart on the left.

The descending triangle shown in the 60M chart on the right is generally a bearish sign which could point to the fact that we're about to resume the main downtrend.

The desending triangle has not broken yet so anything is still possible. Those who'd rather wait for confirmation must surely do so!
I am entering at market now with my SL above the last high, above the triangle resistance trendline and above 1.0700.

Targets:
- TP1: Possible S/R zone (40%)
- TP2: Possible end of harmonic move (20%)
- TP3: Possible S/R level (20%)
- TP4: Completion of possible bat pattern (20%)
Trade closed: stop reached: DAMN!
The bat trade:
AUD/NZD: Daily bat to go long
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out