AUDNZD - Trading The Wedge 🌙

Oct 20, 2023

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

AUDNZD has been overall bearish trading inside the falling wedge pattern in blue, and it is currently approaching around the bound of the wedge.

Moreover, the zone 1.0925 is a strong resistance.

🏹 So the highlighted blue circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper blue trendline acting as a non-horizontal resistance.

As per my trading style:
As AUDNZD approaches the blue circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Oct 26, 2023

Note

AUDNZD is now around the blue circle. So we will be looking for sell setups on lower timeframes to confirm the bearish reversal.