AUDNZD: The Perfect Bearish Pattern
It is a good example of the perfect price reversal. The price reached the resistance zone and formed a reversal candlestick pattern. RSI is going to confirm the price reversal as well as MACD histogram. The main uptrend line was broken. The market gives us a double bearish divergence, which is a solid trend reversal signal. We have bearish signals and reasons to short.
It is possible to search for better entry points using hourly charts. Stop orders must be placed above the local swing high in the daily timeframe. Profit targets should be based on round numbers with the main target at 1.05000 support. Risk per trade must be no more than 1-2% from the capital.
It is the perfect pattern for shorting as we have solid bearish signals. But it does not matter that the market must move downside. That's why we have to use stop orders and the right size of the capital for short trades.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
It is possible to search for better entry points using hourly charts. Stop orders must be placed above the local swing high in the daily timeframe. Profit targets should be based on round numbers with the main target at 1.05000 support. Risk per trade must be no more than 1-2% from the capital.
It is the perfect pattern for shorting as we have solid bearish signals. But it does not matter that the market must move downside. That's why we have to use stop orders and the right size of the capital for short trades.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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