AlbionTrader
Short

AUDNZD possibility for SHORT

FX:AUDNZD   Australian Dollar / New Zealand Dollar
The retracement line on M15 and on M30 is squeezing the bars towards the Fibonacci level at 1.04958.
The same trendline holds for H1 as well (see )
A bar closing under that trendline would probably lead way to a further continuation downwards,

The trend has been short for a bit now as you can see on both H4


and on D1


So, in case the price finally breaks above-mentioned Fibonacci level, we will be looking at a retracement up to 1.05138 (which is a stronger Fibonacci level on D1 as can be seen in the D1 chart).
This latter case is the more probable, as the price is not expected to extend further again to hit the head on the trendline .

Whatever of these three scenarios, we will want to look the signal to enter short and follow the trend.

Prices refer to this chart and may vary with other platform/brokers.
I always discuss and follow up these ideas on my blog (find link in my profile).
Order cancelled: The pair bounced back again to break the 1.05138 level, which invalidated the set-up.
Will have to wait for a possible bounce on the trendline before triggering the SHORT order here.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out