Has hit the top of the channel Bearish Divergence Harmonic pattern has formed (click on related idea to see harmonic pattern)
. FX:NZDUSD Triangle formation and retracement to the level 61.8 signals bullish outlook
Double top and overbought RSI = double confirmation to sell.
Hitting Major resistance. expecting it to go down.
Going long in the EUR/CAD Trading within a triangle and has reach support since august.
Set stop loss slightly beyond the dotted resistance level.
Only sell when it breaks the trend-line Stop loss is illustrated by the red rectangle. Green rectangle is take profits.
Most Likely will be a long. But if it's not we move to plan B which is to short. :) Green Rectangles are a take profit areas This Idea was based off Trading_Jazz Monthly Cypher Pattern that he posted in the Forex chat. that was the reason I decided to look at AUD/USD and do some analysis. Here's the link to his profile if you want to check him out. www.tradingview.com
I am expecting for the short play to play out. However, there is a chance it could long. The green areas are take profit zones Make sure to set stop losses base on technical indications.
Stop Loss should be set Slightly beyond the red trend line. Green circles are potential areas where you could Take Your Profits.