AUDNZD- Short from resistance Hello,
I closed my long from the previous support as it was heading towards major resistance.
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I have been waiting almost a week for the correct time to place an entry.
Entry- 1.07760
SL- 1.08457
Profit- Open towards previous support.
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Reasons for taking trade-
Daily range
Potential double top
Indecisive price action around resistance while the bears have started taking over
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Good luck if you join me on this trade :)
Audnzdshort
AUD/NZD Time for a reversal?Hi Traders
AUD/NZD Signal (H1 Timeframe)
A medium to high probability, entry to go SHORT is forming @ 1.07632 after the market found resistance @ 1.07949. Only the upward break of 1.07949 would cancel this bearish scenario.
Trade details:
Entry: 1.07632
Stop loss: 1.07949
Take profit 1: 1.07445
Take profit 2: 1.07128
Take profit 3: 1.06611
Score: 6
Strategy: Bearish Trend Reversal
Symmetrical triangleIf you missed the Aussie dollars bull run, here we can milk from the overbought, trend-line resistance which is already in a correctional phase indicating a strong reversal. For entry I would use the Stochastic since it has been very accurate for reversals in this triangle.
Stop loss would be above Cs relevant resistance.
Good luck and follow me for more!
AUD/NZD Possible Short FormingHi Traders
AUD/NZD (30M Timeframe suggesting a possible SHORT)
A medium to high probability, entry to go SHORT is forming @ 1.06435 after the market found resistance @ 1.06647. Only the upward break of 1.06647 would cancel this bearish scenario.
Trade details:
Entry: 1.06435
Stop loss: 1.06647
Take profit 1: 1.06327
Take profit 2: 106131
Take profit 3: 1.05812
Score: 6
Strategy: Bearish Trend Reversal
AUDNZD short trade ideaPlan: trendline and support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX