$100k Challenge - AUDNZD Long - Trade Review - E2 T2Hey everyone!
Great news: we have our first winner for the second season of the challenge series!
While monitoring the trade a few days ago, I decided to close half of the trade early and move the SL into profits. This was because I noticed several bearish patterns as we approached the resistance, which led me to believe a resistance break would take more time.
Fast forward a couple of days, bringing us to today's chart; we see an interaction with the resistance that prints a bearish engulfing candle, while the stochastic is signaling a strong overbought scenario with a crossover. Seeing this pattern leads me to close the second half of the trade, effectively closing out the position entirely.
The plan for this pair is to keep monitoring it, as I do consider the stage is set up for a bullish long-term scenario as we continue to develop the accumulation phase (Wyckoff), which can present more trading opportunities, either on another visit to the previous support area or through a resistance break and retest.
Remember to click the nice rocket button and follow me to receive more trade ideas through the funded account challenge journey!
Until the next trade!