AUDNZD | SHORT - ABCD Reversal and Bearish Divergence at sig Res
#Week13-14-Competition-1
BULLISH INDICATOR (JAN 4)
1. Bullish HH and HLs
2. Resistance on Daily chart is approaching for test - between 1.08835 till 1.09229 but HL is not broken
3. Price action is respecting Bullish Channel, with HHs and HLs
4. As per Fib, next HL is expected at 61.8% zone to qualify as bullish trend
5. Bullish rectangle Pennant (continuation pattern) is getting formed in 1H, 30M, 15M, etc. signaling price might go sideways because significant Daily resistance level is reached.
BEARISH INDICATOR (JAN 4)
1. Resistance on Daily chart is approaching for test - between 1.08835 till 1.09229.
2. ABCD Bearish reversal spotted. This might hint for reversal, until price drops below Fib level 50%.
3. BEARISH DIVERGENCE SPOTTED on RSI at 1H, 30M and 15M.
PREDICTIONS
1. Because of ABCD Bearish reversal and Bearish divergence, reversal is a high probability after testing significant Daily level resistance zone of 1.08835 till 1.09229
2. Price is sideway at the time of my trade, So need to prepare plan for both directions
BIAS 1 = SHORT - PLAN A (@ Pending Sell Stop)
BIAS 2 = LONG - PLAN B, (@Pending Buy Stop, If breach happens to the Resistance zone of between 1.08835 till 1.09229)
TRADE PLAN
———————
PLAN A: SHORT @ Pending
EN: 1.08511 (@ Pending Sell Stop Order)
SL1: 1.08817
TP1: 1.08163 - RR: 1.14 - Lt: 0.3
SL2: 1.08956
TP2: 1.07763 - RR: 1.68 - Lt: 0.42
PLAN B: Long (@ Pending Buy Stop)
EN1: 1.09063 (@ Pending Buy Stop)
SL1: 1.08552
TP1: 1.09574 - RR: 1.0 - Lt: 0.25
SL2: 1.08443
TP2: 1.10122 - RR: 1.71 - Lt: 0.32
BULLISH INDICATOR (JAN 4)
1. Bullish HH and HLs
2. Resistance on Daily chart is approaching for test - between 1.08835 till 1.09229 but HL is not broken
3. Price action is respecting Bullish Channel, with HHs and HLs
4. As per Fib, next HL is expected at 61.8% zone to qualify as bullish trend
5. Bullish rectangle Pennant (continuation pattern) is getting formed in 1H, 30M, 15M, etc. signaling price might go sideways because significant Daily resistance level is reached.
BEARISH INDICATOR (JAN 4)
1. Resistance on Daily chart is approaching for test - between 1.08835 till 1.09229.
2. ABCD Bearish reversal spotted. This might hint for reversal, until price drops below Fib level 50%.
3. BEARISH DIVERGENCE SPOTTED on RSI at 1H, 30M and 15M.
PREDICTIONS
1. Because of ABCD Bearish reversal and Bearish divergence, reversal is a high probability after testing significant Daily level resistance zone of 1.08835 till 1.09229
2. Price is sideway at the time of my trade, So need to prepare plan for both directions
BIAS 1 = SHORT - PLAN A (@ Pending Sell Stop)
BIAS 2 = LONG - PLAN B, (@Pending Buy Stop, If breach happens to the Resistance zone of between 1.08835 till 1.09229)
TRADE PLAN
———————
PLAN A: SHORT @ Pending
EN: 1.08511 (@ Pending Sell Stop Order)
SL1: 1.08817
TP1: 1.08163 - RR: 1.14 - Lt: 0.3
SL2: 1.08956
TP2: 1.07763 - RR: 1.68 - Lt: 0.42
PLAN B: Long (@ Pending Buy Stop)
EN1: 1.09063 (@ Pending Buy Stop)
SL1: 1.08552
TP1: 1.09574 - RR: 1.0 - Lt: 0.25
SL2: 1.08443
TP2: 1.10122 - RR: 1.71 - Lt: 0.32