- Bounce from Monthly Support - Bounce from Daily Trendline - Bounce from Weekly Support - inverse H&S - breaking of 4H trendline - Wait for breaking of Daily Structure
AUDNZD has broken the top side of the downtrend that it has been in since the middle of August. Now as we look to see where price action will take us, lets pay attention to what price does at this structure above. If price breaks cleanly through this structure and retests on the topside of the structure, we could see stronger moves to the upside. However, if price...
AUDNZD retesting the previous resistance zone for the third time @ 1.0850. Interestingly, it also come into the confluence of the downtrend trend line which also act as resistance. Not the perfect setup but this trade is looking at al upside limited downside potential with a higher RR ratio. A sell limit position recommended at 1.0850. Three ways of exiting...
#AUD/NZD make a sell formation. 1:3 RRR 1H
This descending channel on the D1 chart of AUD/NZD presents an opportunity for a bullish breakout trade. The pattern's borders are marked with the yellow lines. The potential entry level is at the cyan line. The potential take-profit level is at the green line. Stop-loss is to be set to the low of the breakout candle (not shown on the chart).
📈#audnzd inverse h&s is on the table, longing the breakout of the 1.08315 neckline.
price at right shoulder and now also bounced off right shoulder will enter above breakout only. Just watch the game and enjoy yourself in quarantine babe
Traders, if this is your style then this could be a good trade with multiple confluences. Firstly, we have strong resistance at that area then we can expect the price to retest the previous swing high to complete the 'W' pattern. Let me know your thoughts in the comments and hit the like button if you agree with this.