AUDNZD - POT confluence area - DAILY - Long
3 nested patterns completing in same zonal space.
Would complete at bottom of consolidation triangle, and trade would be confirming consolidation to continue
886 confluence of previous larger swing
RSI is just heading into Oversold. possible rebound off the 786 but would be short term to meet the 886 area
Check back in the coming day/s
3 nested patterns completing in same zonal space.
Would complete at bottom of consolidation triangle, and trade would be confirming consolidation to continue
886 confluence of previous larger swing
RSI is just heading into Oversold. possible rebound off the 786 but would be short term to meet the 886 area
Check back in the coming day/s
Note
Consolidation triangleNote
Maybe today?We entering top of zone
Note
If you are trading the pattern the Monthly Support is exactly X, and would require a SL below this (its NFP today!)Note
BoomNote
Channel creationNote
Channel support being pushed with negative price actionMoved position to BE @ 1.041
Its possible we see a break here with a retest of pattern structure or lower.
Either way we are in no loss position with a pending opportunity at lower prices.
Trade closed: target reached
1.041 stood firm.Target 1 hit
Target 2 @ 1.065 with trailing stop, the move could run much higher, this is a prett conservative target 2 price.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.