I'm not going to enter this trade until i see breakout of the support line. After breakout, i will wait for the pullback and will go short after i see the price-action.
This is a 1:3 risk-reward setup which means a bit risky one. I'm going to risk 2% of my account balance for this trade. There are some strong supports. I may close and re-enter but not sure...
i have been waiting for this drop and its about time for AUDNZD to drop back to planet earth. watchout, set your sell stops and watch this pair go... down :)
See previous analysis
PLEASE SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
So as you can see we expect AUDNZD to go short. We think it will go short because the markt is now in a strong weekly sell order zone. If you zoom in on the daily chart you can see we are now also in a strong sell order zone that’s been filled right now.
It will be much clear on the 4h chart, you can see the 4h trendline is been broken en created a...
Here you can see a clean divergence. We can also see that price could not reach top of the trend. Here's my setup:
I will wait for the break-out and a re-test. After i see a high fractal, i'm going to enter short. There are 3 profit points for me and I'm not planning to trail my stop.
PS: This is not financial advice.
I usually don't trade this pair, in fact did all the technicals right now.
I see a bullish trendline that has reached a liquidity zone just below the monthly level, that trendline broke and came back to test the downwards trend, I think that still is going to go down., even tho that the M is now turning in a downwards triple top, it still has structure.
welcome to another free signal!
Important: This Setup is valid as soon as we break through the neckline and flip it into a resistance! Otherwise its not a confirmed Double-Top and could turn into whatever!
Sell@ : 1.05823
Target 1: 1.05613
Target 2: 1.05411