Price is currently showing bearish momentum with the potential to make new lows after price has retarced to the price level at the grey line i have marked which is our entry point
Stop loss - Red price level
Take profit - Green price level
Possible short setup for AUDNZD on the 1D time-frame.
The pair has risen to meet a long-term ascending trendline and is showing signs of consolidation, particularly evident on the 4H chart.
The RSI is showing the pair is currently overbought and MACD is close to signalling a fall.
I am waiting for a little more...
Possible strong pullback towards the trend line for AUDNZD. Price has broken trend line channel to the upside and now would be a good time to place a sell trade on the pullback to the trend line. Price has also been moving under both the 200 and 50 EMA which is still indicating a strong short bias. I expect the price to move back to the trend line and then go all...
there are some instances where i trade directly at the D point of an harmonic pattern, and this is one of these cases. Reason why is that price has been rejected from a major resistance level and right afterwards it created this simple harmonic formations known as Gartley pattern. As of now, i'm looking to short the D completion point and set targets...