AUD/NZD has formed a cup and handle patter at a key zone and trendline. Looking for long positions.
Order cancelled
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No entry as price descended lower. The mistake I made was that the pattern was formed directly beneath a key zone of sensitivity, instead of on a zone of support underneath which would provided buy protection.
@LokeshPunjwani, The zone where the price is, is currently the bottom of the "handle" of the pattern that is forming. This would be probably the best entry, as this pattern is usually a very bullish pattern and a strong bullish engulfing would give us evidence to enter