Price broke out of the bullish flag pattern to the upside, expecting a retest of resistance trendline area before a continued bullish move to the upside.
Why are we entering?
- We are within a descending channel and a descending wedge indicating bullish reversal
- 2 areas. Recent bottom or bigger double bottom
- Expecting NZD Weakness
What are we waiting for to happen?
- Bounce off the recent structure bottom
- Break of WFB for confirmation
- If recent bottom breaks, look for double bottom
What is our...
Looking at this graph it can be supposed a long position on AUDNZD.
First of all, looking at Fibonacci retracement the line is about to reach the 0.5 level, usually a significant turning point. This turning point is also confirmed by a support line at the same level. In addition, looking at Bollinger Bands the graph is about to lay on the base line.
Entry price:...
Possible trend reversal on shorter time frame as AUDNZD making a new higher high and a higher low. if current HH is broken it can make new highs on hourly time frame with the end of bearish trend.
#AUDNZD
AUDNZD has reached the Multi-Year Support area in the daily timeframe chart.
In the 4-hour timeframe, AUDNZD hits the lower low level of a descending channel. Expecting a correction from this zone.
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AUDNZD is setting up for a long.
The double bottom is at 1.043 area.
The 1.272 reversal of the last swing higher is in the same area.
As of now the market is just above the double bottom and having reached an area of reversal with three confluences.
1. A 1.618 reversal taken from the low on 27/05 to the high 21/06 (red)
2. Market has reached a measured move...
This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
audnzd sell :
Reasons :
1)my ema lines crossed each other indicating an upward trend
2)nice breakouts at support levels which are marked as blue rectangles
3)breakouts are the same pattern indicated by orange rectangles
4)pattern trading
take profit : green line
stop loss : red line
risk/reward ratio : 8.55
the stop loss if very less as there is confirmation...
