AUSDUSD Daily S/R| Swing High| .618 Fibonacci| Volume Influx
Evening Traders,
Today’s analysis – AUDUSD- respecting Daily S/R with an influx, currently trading towards a bearish retest,
Points to consider,
- Price Action Impulse
- Daily S/R Support
- Local S/R Resistance (.618 Fibonacci)
- Oscillators Neutral
- Volume Influx
AUDNZD’s immediate price action is impulsive; confirming a bearish retest of Local S/R allows us to have a bearish bias on the market.
The Daily S/R has been respected, a back test of the level must be held on continued downwards probable.
Local S/R is in confluence with the .618 Fibonacci, thus a rejection on first attempt is probable.
Both oscillators are neutral, extending into overbought conditions increases the probability of a reversion.
Currently there is a valid volume climax, indicating a temporary bottom in place as price action finds its equilibrium.
Overall, in my opinion, AUDNZD is a valid short with defined risk, price action is to be used upon discretion/ management of trade.
Hope this analysis helps!
Thank you for following my work
And remember,
A streak of winning trades can boost your ego and self-confidence to such an extent that you start believing that you’re invincible. If that is the case, try to take a break from trading to calm your emotions down.
Today’s analysis – AUDUSD- respecting Daily S/R with an influx, currently trading towards a bearish retest,
Points to consider,
- Price Action Impulse
- Daily S/R Support
- Local S/R Resistance (.618 Fibonacci)
- Oscillators Neutral
- Volume Influx
AUDNZD’s immediate price action is impulsive; confirming a bearish retest of Local S/R allows us to have a bearish bias on the market.
The Daily S/R has been respected, a back test of the level must be held on continued downwards probable.
Local S/R is in confluence with the .618 Fibonacci, thus a rejection on first attempt is probable.
Both oscillators are neutral, extending into overbought conditions increases the probability of a reversion.
Currently there is a valid volume climax, indicating a temporary bottom in place as price action finds its equilibrium.
Overall, in my opinion, AUDNZD is a valid short with defined risk, price action is to be used upon discretion/ management of trade.
Hope this analysis helps!
Thank you for following my work
And remember,
A streak of winning trades can boost your ego and self-confidence to such an extent that you start believing that you’re invincible. If that is the case, try to take a break from trading to calm your emotions down.
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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.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
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.