AUDUSD: FOLLOW this clear DESCENDING CHANNEL!
Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis📈 and Trading Tips📉, support the idea hitting the LIKE👍 button and don't forget to SUBSCRIBE✔️ my channel, you won't miss anything!
🟢Forex Pair:
AUD/USD
⚪Technical Analysis:
Since the 6th of January 2021, the price has been following an interesting descenging channel, after it reached a strong weekly resistance zone at about 0.78100.
The price got few rejections on that level, creating every time a lower high and it's now approaching to re-testing the same resistance zone.
🔴Conclusion:
A strong bearish pin bar just around the support level at about 0.76650 , pushed the price up and it is eventually going to re-test the main resistance zone.
I'm confident to follow this nice descending channel and I'll be waiting a clear rejection on its dynamic resistance line before planning my short position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
AUD/USD
⚪Technical Analysis:
Since the 6th of January 2021, the price has been following an interesting descenging channel, after it reached a strong weekly resistance zone at about 0.78100.
The price got few rejections on that level, creating every time a lower high and it's now approaching to re-testing the same resistance zone.
🔴Conclusion:
A strong bearish pin bar just around the support level at about 0.76650 , pushed the price up and it is eventually going to re-test the main resistance zone.
I'm confident to follow this nice descending channel and I'll be waiting a clear rejection on its dynamic resistance line before planning my short position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
Related publications
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.