Hello Traders,
The AUDNZD showed bearish momentum after the break of a trendline. We are now testing the resistance 1.05052 where we hope to get short.
Resistances: 1.05052, 1.05211, 1.05309
Supports: 1.04755, 1.04511
I set a SELL LIMIT ORDER below the resistance 1.05052 and set the SL above the next resistance 1.05211. TP is set at the support 1.04755. See the arrows for my graphical projection.
Entry: SELL LIMIT 1.05052
SL: 1.05211
TP: 1.04511/ .04755 (partial profits)
Trade characteristics: Trend reversal with a limit entry on a retest of trendline
Expected trade duration: 1-3 days
Risk-to-Reward-Ratio: 2.09
Any Likes or Opinions in the comment section are appreciated. I also post regularly, so if you like my content, make sure to follow me. :)
The AUDNZD showed bearish momentum after the break of a trendline. We are now testing the resistance 1.05052 where we hope to get short.
Resistances: 1.05052, 1.05211, 1.05309
Supports: 1.04755, 1.04511
I set a SELL LIMIT ORDER below the resistance 1.05052 and set the SL above the next resistance 1.05211. TP is set at the support 1.04755. See the arrows for my graphical projection.
Entry: SELL LIMIT 1.05052
SL: 1.05211
TP: 1.04511/ .04755 (partial profits)
Trade characteristics: Trend reversal with a limit entry on a retest of trendline
Expected trade duration: 1-3 days
Risk-to-Reward-Ratio: 2.09
Any Likes or Opinions in the comment section are appreciated. I also post regularly, so if you like my content, make sure to follow me. :)