AUDUSD bearish wedge

Updated

Looks like a nice bearish wedge with a nice setup at the high. It is getting a bit over extended now, so it has to make a drop very soon, within a few hours, otherwise it might break out sideways and simply move up. So when it takes too much time, i will simply close it again, since it's also against that resistance line on the left.

Previous analysis:

AUDUSD double bottom and bullish wedge Part 2

Note

If the curved line breaks, it will prob start to drop, above it, it could still hold

Note

This wedge seems to be failing, taking too much time and that support is not breaking. So i am going to wait for that support zone to break. It could still happen coming hours, if it does, i will jump in, if not, letting it go

botje11

Also on:

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.