Looking for the continuation of this down trend after a long daily retracement. Hidden bearish divergence on the 1H and 1D charts. Long term sell
Hope you all had an amazing holiday/rest :)
What we see is the formation, on the fifth bullish wave, of an interesting double head and shoulders.
The two neck lines, in addition to being in parallel, have already suffered a breakout. Now we are in the pullback phase.
a great time to get into short on about 200 pips.
1. Based on the last 16yrs of daily close data (since 01/01/2000 to date) AUDNZD has a cumulative probability of a =>7th day lower at 0.5%, hence there is a implied 99.5% chance of reversal on the daily.
2. Technically there is also some nice structure about the 1.045 level.
1. Sell AUDNZD at market in 1xlot, and add 2x on...