Monitoring AUDNZD For A Reversal Opportunity
Uppdaterad
I've been watching this pair since last week.
1. This is the first indication that the uptrend is topping out. It failed to make a higher high. The reversal sentiment is strengthened by #2.
2. Although this was rather quick, price breaking below the lower boundary range is a good indication that this level isn't being respected. Or, not being respected as cleanly. What this implies is that price may not experience a strong reaction off of this level if it were to make another test.
3. Price briefly traded below the lower boundary again last week. I am largely monitoring this pair for a potential opportunity to short this pair. If price does breach below this level, I do anticipate a good pay off.
1. This is the first indication that the uptrend is topping out. It failed to make a higher high. The reversal sentiment is strengthened by #2.
2. Although this was rather quick, price breaking below the lower boundary range is a good indication that this level isn't being respected. Or, not being respected as cleanly. What this implies is that price may not experience a strong reaction off of this level if it were to make another test.
3. Price briefly traded below the lower boundary again last week. I am largely monitoring this pair for a potential opportunity to short this pair. If price does breach below this level, I do anticipate a good pay off.
Kommentera
s3.tradingview.com/snapshots/f/foThWXT3.pngFinally broke lower, this move is underway.
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