Audnzdsell
AUDNZD neckline break reversal tradeFew things going on here:
1. Price reached the highs of 1.078 and then it found weakness. You can tell by the fact that price ranged, but consistently failed to break above the 1.078 level. At the same time, price has been holding supported at the 1.75 level.
2. What I'm currently seeing is that price is breaking below the 1.75 level and slightly retracing. This break occurred because we're not seeing any bids holding the price up.
3. I'm expecting to see price trickle lower as the profit taking occurs after this spike.
AUDNZD Possible Shortas you can see AUDNZD has formed a left shoulder, a head and has formed part of the right shoulder. This is a reversal pattern if fully formed at the top of the bullish run.
AWAIT completion of the head and shoulder formation, followed by a neckline break which will also be a trendline break followed by a retest and rejection. Engulfing candle to go short
AUD/NZD SELL SIGNALHey tradomaniacs,
welcome to another free trade-plan.
Important: This is meant to be a preparation for you. As always we will have to wait for a breakout and confirmation.
AUD/NZD: Swingtrade-Execution
Sell-Limit: 1,06860
Stop-Loss: 1,07750
Target 1: 1,05900
Target 2: 1,05260
Target 3: 1,03930
Stop-Loss: 89 pips
Risk: 1-2%
Risk-Reward: 3,33
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Peace and good trades
Irasor
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AUDNZD upside momentums weakensThis is currently a very preliminary trade idea based off of the current momentum on this pair. I outlined this trade idea in three major points.
1. The run-up from March 19th ceased at the 1.0613 level. Price proceeded to pull back to my #2 label at 1.0477 level.
2. Nothing out of the ordinary so far as price would retrace after such a rally. What's interesting is that this next wave didn't make as significant of a move. Specifically, we can see it hitting the #1 label highs and then stalling.
3. I'm currently observing the price action signal at this level. It broke back below the 1.06 level and then made an uptick. If price fails to make a surge higher, we could potentially see this pair reverse.
Again, largely preliminary at the moment. Currently just keeping an eye on this pair for a potential opportunity.