Possible Scenarios on AUDNZD
Updated
Both of my scenarios end up hitting the upper trend line. It could possibly happen in 2 different ways though
- Either the price will rally to the top after breaking up the highlighted S/R level which is the key to the action...
- ... or it will retest the lower S/R first ( because of the trendline breakout previously ) and then it will start a powerful rally to the top
Either way it will go up. I really doubt it will down-trend. Thanks! :)
- Either the price will rally to the top after breaking up the highlighted S/R level which is the key to the action...
- ... or it will retest the lower S/R first ( because of the trendline breakout previously ) and then it will start a powerful rally to the top
Either way it will go up. I really doubt it will down-trend. Thanks! :)
Trade active
I went short on AUDNZD at 1.07000 level after the price bounced on the S/R, which by the way, proves the red scenario correct, so far! Will keep short till it reaches the 1.05826 level, which is my take profit. Happy trading! :)
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