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Audnzdanalysis

AUDNZD: Bearish outlook & supply setup Hey traders, FX:AUDNZD recently tested demand above the recent pivot high and failed. But in the process, stop orders in that zone were triggered, which qualifies as manipulation in my book. We then got a strong drop, formed a short base and continued down breaking structure to confirm downtrend. The base is a nice supply zone in itself, where I expect resting orders to be placed and traders waiting to get in. Last week we pulled back, but didn't quite reach the supply area. We also didn't fill the imbalance (yellow zone on chart) and the lower high here means liquidity is building above. Lots of confluence here and logic dictates, that if we move up to fill the imbalance and tap into the lower high liquidity, the supply zone is a high probability are for price to reverse. As a target, I'm simply looking at last week's low. But I believe we can go further than that. 1.092 is a logical area looking at daily chart. Feel free to use it for TP2. This is also my scratch level. If we move here before getting a retracement to the supply zone, I'm discarding the trade. Summary: AUDNZD 4H SELL SETUP Supply & Demand Trade Entry: 1.10605 SL: 1.1095 TP: 1.09525 Scratch level: 1.092
Short
by RonnyNilsson
Jamie Gun2Head Idea - Selling AUDNZDTrade Idea: Further AUDNZD selling Reasoning: Fading short term resistance Entry Level: 1.0964 Take Profit Level: 1.0944 Stop Loss: 1.0970 Risk/Reward: 3.33:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre