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Brandon_evo4
Feb 21, 2024 2:42 PM

AUDNZD Sells still Active but struggling (Considering closing) Short

Australian Dollar/New Zealand DollarFXCM

Description

As per my last analysis on AUDNZD - (tradingview.com/chart/?mind=U-bASjfdSLqDTNlYx9NejQ&symbol=FX:AUDNZD)

I am still actively holding this trade

NOW, given the fact that audnzd just struggled to breach this most recent low (purple zone) and decided to pull back upward - made me consider closing but patience

If however, it struggles again to breach this low I'd close in profit

Why? it is simple really, price pushed up off of the (purple zone) and rejected the top side, if it rejected the top side it stands to reason that it went for liquidity from sellers higher - IF this was the case, shouldn't it have no problems going lower?

If price struggles to breach this low (purple zone) this time around I'd be closing this trade

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Trade active

Trade still active, but it's struggling

Trade closed: stop reached

Stop Loss in profit hit
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