The Australian Dollar/New Zealand Dollar (AUD/NZD) currency pair on a 2-hour time frame. The chart is annotated with various technical analysis tools and labels, indicating a potential trading strategy.
📊Chart Analysis:
- The chart shows an upward trend, with the price moving in a series of higher highs and higher lows.
- The annotations on the chart include:
- BOS (Break of Structure): Indicates a change in the market structure, where the price breaks through a previous support or resistance level.
- CHOCH (Change of Character): Suggests a shift in the market's behavior, potentially indicating a trend reversal or continuation.
- OB (Order Block): Represents a significant area of interest for traders, where there is a high concentration of buy or sell orders.
- Support and Resistance: Horizontal lines indicating key levels where the price has historically bounced or reversed.
Trading Strategy:
- The annotations suggest that the trader is looking to identify a potential buying opportunity.
- The presence of BOS and CHOCH labels indicates that the trader is monitoring the market's structure and character for signs of a trend continuation or reversal.
- The OB label highlights a significant area of interest, which could be used as a target for a trade or as a level to watch for potential price reactions.
Target:
- The target appears to be the resistance level above the current price, which is around 1.09000.
- The trader may be looking to buy the AUD/NZD pair at the current price or at a lower level, with the goal of selling it at the resistance level.
Kindly like🚀 to support.
📊Chart Analysis:
- The chart shows an upward trend, with the price moving in a series of higher highs and higher lows.
- The annotations on the chart include:
- BOS (Break of Structure): Indicates a change in the market structure, where the price breaks through a previous support or resistance level.
- CHOCH (Change of Character): Suggests a shift in the market's behavior, potentially indicating a trend reversal or continuation.
- OB (Order Block): Represents a significant area of interest for traders, where there is a high concentration of buy or sell orders.
- Support and Resistance: Horizontal lines indicating key levels where the price has historically bounced or reversed.
Trading Strategy:
- The annotations suggest that the trader is looking to identify a potential buying opportunity.
- The presence of BOS and CHOCH labels indicates that the trader is monitoring the market's structure and character for signs of a trend continuation or reversal.
- The OB label highlights a significant area of interest, which could be used as a target for a trade or as a level to watch for potential price reactions.
Target:
- The target appears to be the resistance level above the current price, which is around 1.09000.
- The trader may be looking to buy the AUD/NZD pair at the current price or at a lower level, with the goal of selling it at the resistance level.
Kindly like🚀 to support.
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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.
Join Telegram Channel Free t.me/Sharp_Entry_Trader "Explore daily insights: 4/5 signals meticulously analyzed, ensuring an impressive 99% accuracy in forex & crypto trades t.me/Sharp_Entry_Trader
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.