#AUD/NZD make a sell formation. 1:3 RRR 1H
This descending channel on the D1 chart of AUD/NZD presents an opportunity for a bullish breakout trade. The pattern's borders are marked with the yellow lines. The potential entry level is at the cyan line. The potential take-profit level is at the green line. Stop-loss is to be set to the low of the breakout candle (not shown on the chart).
📈#audnzd inverse h&s is on the table, longing the breakout of the 1.08315 neckline.
price at right shoulder and now also bounced off right shoulder will enter above breakout only. Just watch the game and enjoy yourself in quarantine babe
Traders, if this is your style then this could be a good trade with multiple confluences. Firstly, we have strong resistance at that area then we can expect the price to retest the previous swing high to complete the 'W' pattern. Let me know your thoughts in the comments and hit the like button if you agree with this.