2000+ pip swing sell on AUDNZD
Updated
IDEA
On our top-down analysis we can see the following about the current price:
CONCLUSION
The fact that we are at the resistance of our weekly bearish channel is our first confirmation to sell. Also keep in mind we are at another area of high sensitivity at 1.07656 as well as the possible triple top. So having 3 confirmations makes this a high possibility trade.
POSSIBLE TRADES
Entry: 1.07650
SL: 1.08169
TP 1: 1.07100
TP 2: 1.06650
TP 3: 1.05674
It is possible that price can still go lower, all the way down to our support line of the weekly bearish channel.
On our top-down analysis we can see the following about the current price:
- Weekly: Pair is currently at the resistance of our bearish channel
- Daily: We have an area of sensitivity at 1.07656 by which we can see high possibility of a triple top
- 4h: Another bullish channel here showing the current bullish movement to create our third top
CONCLUSION
The fact that we are at the resistance of our weekly bearish channel is our first confirmation to sell. Also keep in mind we are at another area of high sensitivity at 1.07656 as well as the possible triple top. So having 3 confirmations makes this a high possibility trade.
POSSIBLE TRADES
Entry: 1.07650
SL: 1.08169
TP 1: 1.07100
TP 2: 1.06650
TP 3: 1.05674
It is possible that price can still go lower, all the way down to our support line of the weekly bearish channel.
Trade active
Third touch confirmed by the rejection candle at 1.07656. Sells are now in place!Trade active
400+ pips and counting!
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