AUDNZD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Audnzddaily
AUDNZD: 03/10/2023:🔴Down to Bullish order block?
Well, in my perspective the price can see a lower price, at least to the bullish order block, if the price reaches the order block, we should study the price again so that we can see bullish signs or we can expect a lower price under a liquidity pool.
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🗓03/10/2023
🔎 DYOR
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AUDNZD top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
AUDNZD sell breakdown!!AUDNZD (4H) has formed a very strong bearish price action on the lower timeframe. there is a strong reversal pattern with support break on the 4h. it is a high probability that AUDNZD will continue to drop as the price has already reach a monthly resistance a deeper retracement is required
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AUDNZD is preparing for drop to monthly support!AUDNZD has formed a head & shoulder on the resistance after breakout and retest. In the big picture, AUDNZD is likely to drop to at least to monthly 38.1% fib level as the market is over-extended to the upside. Upon price action confirmation, a sell trade is highly probable.
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AUDNZD - LONGAUDNZD is setting up for a long.
The double bottom is at 1.043 area.
The 1.272 reversal of the last swing higher is in the same area.
As of now the market is just above the double bottom and having reached an area of reversal with three confluences.
1. A 1.618 reversal taken from the low on 27/05 to the high 21/06 (red)
2. Market has reached a measured move lower (blue)
3. Market has hit a 1272 reversal of last swing (white)
A long trade now would mean a SL below the double bottom 02/12.
Aud/Nzd setupOn 1 hour timeframe Audnzd recently broke the descending channel and currently in a Subminuette-v within Minuette-i. I'll be looking for slight correction, maybe near 50% fibo level to complete Minuette-ii. Then I'll be waiting for a convincing impulse back up. Since it is Minuette-iii, I like to keep my target near 1.618 extension which is also a daily resistance, 1.0940. If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. If there's any ambiguity then I will not place this trade.
AUDNZD is shifting from Bearish to BullishAUDNZD has been making strong bearish movement for 3 weeks. But recently the market is shifting from bearish to bullish. We can see on 4H that the market is consolidating. And today the market broke the consolidation but we have to see close above the consolidation level on 4H. So, if the market closes above the consolidation level then on the retest of that impulse we can look for a long.
AUD/NZD Broke Out of Channel With A Bullish Candle And Volume We have a interesting setup here on AUDNZD, what we have here is the daily came down to a previous support with a Double bottom, so now we know that we have to be looking only now for bullish reasons to buy unless its breaking down the support,
if you take a look you can see that the market provided us with a nice bullish candlestick formation breaking out of the previous down channel with a increase in volume as you can see, besides all that we are at a pretty weekly low as well.
So in conclusion what we have,
1) Full Body Bullish Candlestick Formation
2) Break Out Of The Channel
3) Increase In Volume
4) Double Bottom Support
Now you have to make the decision if this gives you enough confidence to buy,
don't just jump in out of FOMO, take a few minutes off to assess it for yourself and create a plan, be mindful when you enter the trade.
Happy Trading!!