AUD/NZD Analysis - Short Setup
The AUD/NZD pair shows a clear bearish trend with the following key highlights:
Break of Structure (BOS): Multiple BOS levels confirm the bearish momentum.
Change of Character (ChoCH): Signs of a bearish market structure shift further validate the downtrend.
Strong High at 1.1024: This level acts as a resistance zone, providing an optimal area to short, as price is unable to break higher.
Target Zones: The weak low around 1.0971 and the demand zone near 1.0940 are potential levels where price may react or consolidate.
Stop Loss: Placed above the strong high at 1.1024 to manage risk effectively.
Plan:
Short positions align well with the current bearish trend. Monitor the reaction at the resistance zone and ensure proper risk management, targeting lower levels in line with the bearish structure.
Break of Structure (BOS): Multiple BOS levels confirm the bearish momentum.
Change of Character (ChoCH): Signs of a bearish market structure shift further validate the downtrend.
Strong High at 1.1024: This level acts as a resistance zone, providing an optimal area to short, as price is unable to break higher.
Target Zones: The weak low around 1.0971 and the demand zone near 1.0940 are potential levels where price may react or consolidate.
Stop Loss: Placed above the strong high at 1.1024 to manage risk effectively.
Plan:
Short positions align well with the current bearish trend. Monitor the reaction at the resistance zone and ensure proper risk management, targeting lower levels in line with the bearish structure.
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