AUDNZD Downtrend Continuation - Short Position
AUDNZD Short Position
Price Entry: 1.07760
SL: 1.08079
TP: 1.07106
Harmonic Pattern Completed at 61.85 retracement level drew from C to D
Now we are seeing a push from the bulls but struggling to break the 1.07740 level - we have seen price touch three times without breaking
Raising wedge now formed indicating a Strong sell coming
Double top also backs this up
When fib retracement drawn from Level D to the lower high we can see price not being able to break 38.2% level - showing a potential reversal back to bottom trend line
Taking profits at next significant level to wait and see if price can break this area, if so i will place another sell position and set tp around the bottom trend line
Risking 5%
Price Entry: 1.07760
SL: 1.08079
TP: 1.07106
Harmonic Pattern Completed at 61.85 retracement level drew from C to D
Now we are seeing a push from the bulls but struggling to break the 1.07740 level - we have seen price touch three times without breaking
Raising wedge now formed indicating a Strong sell coming
Double top also backs this up
When fib retracement drawn from Level D to the lower high we can see price not being able to break 38.2% level - showing a potential reversal back to bottom trend line
Taking profits at next significant level to wait and see if price can break this area, if so i will place another sell position and set tp around the bottom trend line
Risking 5%
Trade closed: stop reached