AUDNZD - Bearish Shark Pattern on Daily Chart (2 PRZs)
A shark pattern might be completing next week.
This shark pattern has 2 PRZs, do take note.
RSI is about to reach overbought level.
In my opinion, PRZ 1 seems to be a strong resistance level, where price is more likely to retrace.
Excellent R:R
PRZ 1 : 3.8 (TP1) and 6.8 (TP2)
PRZ 2 : 4.1 (TP1) and 7.3 (TP2)
Will update with upcoming news that affect AUDNZD and if pattern completes.
Have a good weekend.
This shark pattern has 2 PRZs, do take note.
RSI is about to reach overbought level.
In my opinion, PRZ 1 seems to be a strong resistance level, where price is more likely to retrace.
Excellent R:R
PRZ 1 : 3.8 (TP1) and 6.8 (TP2)
PRZ 2 : 4.1 (TP1) and 7.3 (TP2)
Will update with upcoming news that affect AUDNZD and if pattern completes.
Have a good weekend.
Note
Price has reached the first point of PRZ 1.Note
2nd point of PRZ 1 hit, awaiting for current candle to close and observe the next.Trade active
Market execution at 1.07145Note
Currently at about 40+ pips profit.Note
Currently at about 60 pips profit, I am still holding my short position.Note
Shifted SL to breakeven, risk-free trade now.
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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.