Audnzdshort
AUDNZD short trade ideaPlan: 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
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AUDNZD Reversal Outlook Pattern!!! Rejection off Resistance....Today, AUDNZD managed to reject off the resistance level @1.0825 and we can see a strong bearish movement starting to take place. What I would like to see for AUDNZD will be a downward movement to the support level @1.0612 which I believe we will see a nice breakthrough heading for 2 important fib level mainly 50.0 and potentially 61.8 where a bullish movement could take over. If price level reaches 61.8 fib level, also a strong support level area, we could see a nice rejection for a bullish movement. However, as of now I will say AUDNZD will be a sell opportunity.
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AUD/NZD Possible short-term bearish price movementGood morning traders,
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Now let's take a look at short term trade opportunity for AUD/NZD, we can see that price has been struggling to break through middle line of ascending channel. We expect price to move lower to test support line of this channel, however be aware that overall trend is bullish and bears might not have enough strength to get price to support. Use small risk management un this trade putting Stop Loss right above the middle line of ascending channel. We predict slow market today and we have to take advantage of every option market give us.
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AUDNZD bearish momentum picking upMultiple time frame analysis is involved here. Over on the daily timeframe, you'll see that price is testing the 1.0842 level. This is a high that formed back in November of 2019. Given the sharp move up, I didn't take the initial short, but now I did after this leg down.
Over on the hourly, you can see the strong leg down as prices tested the 1.083 level and then broke through the 1.08305 floor. This entry is timed as price is retesting the 1.08305 level. This level is significant because there was buying volume that originated here, but that's no longer the case.
One concern is the 1.078 level as this is where selling pressure temporarily ceased. However, you'll also notice that buying volume isn't as strong. It took five bars for the price to inch up and this doesn't even cover the entire bearish bar.
Buying pressure currently still remains weak and we can expect further downside potential.
AUDNZD-Entrys for sellThree Different levels/zones that I will watch for rejection for sells. Price had tested the monthly Resistance multiple times and rejected, then Price broke to the downside from the weekly trendline of support, retested that trendline and made a LL, then price created a double bottom on weekly tf, and has pushed back up to previous high. my bias remains short unless we break the monthly resistance. I will be watching for a rejection at weekly TL, psych/key level, and monthly TL.