Hello traders! 👋 Diving into AUDNZD today.
Despite a recent bounce from the weekly order block and the weekly 0.618 Fibonacci level, the overriding trend remains strongly bearish on both the Daily and 4-hour timeframes. 📉 This keeps shorts on my radar.
🔍 Short Setup Considerations:
I'm considering short positions based on the following scenarios:
🎯 Potential Short Entry Zone: 1.0780 – 1.0800
I'll be patiently watching for price action to confirm one of these setups before considering an entry. Confirmation is key!
Remember to trade wisely and manage your risk.
Despite a recent bounce from the weekly order block and the weekly 0.618 Fibonacci level, the overriding trend remains strongly bearish on both the Daily and 4-hour timeframes. 📉 This keeps shorts on my radar.
🔍 Short Setup Considerations:
I'm considering short positions based on the following scenarios:
- Scenario A: If the price reaches the 0.618 Fibonacci retracement level accompanied by a liquidity sweep above a recent high.
- Scenario B: Should the 0.618 level be breached, a short could be considered if the price then reaches the next 0.786 Fibonacci retracement level. Here, I'd look for a clear liquidity sweep and a subsequent reversal reaction from this level.
🎯 Potential Short Entry Zone: 1.0780 – 1.0800
I'll be patiently watching for price action to confirm one of these setups before considering an entry. Confirmation is key!
Remember to trade wisely and manage your risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.