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Pair: AUD/USD Timeframe: 4H Bias: Short-term bearish Custom Term: PRZ (Possible Reversal Zone) = 0.65696
📈 Technical Structure:
AUD/USD is trading within a well-respected ascending channel, with price currently hovering near 0.6570. The upper boundary of the channel aligns closely with the PRP zone at 0.6600, which also coincides with:
A prior supply zone (visible on higher timeframes).
Confluence of the 15 EMA (0.65692) and 60 EMA (0.65534) flattening out.
Psychological round number resistance.
Entry: 0.65700
Stop: Above 0.66064 (channel breakout invalidation)
Target 1: 0.6540
Target 2: 0.6500
Risk/Reward: ~1.8
(Warning: This is an early entry [med-high risk])
🧠 Psychology Insight:
The PRP concept helps frame trades around areas of emotional overextension—where traders may overcommit to a breakout. By identifying these zones in advance, you stay objective and avoid reactive decisions.
PRZ: Possible Reversal Zone
#AUDUSD #PRZ #Forex #TechnicalAnalysis #ChannelTrading #ReversalZone #PriceAction #MJFX #TradingPsychology #ToughButSuccessful
Pair: AUD/USD Timeframe: 4H Bias: Short-term bearish Custom Term: PRZ (Possible Reversal Zone) = 0.65696
📈 Technical Structure:
AUD/USD is trading within a well-respected ascending channel, with price currently hovering near 0.6570. The upper boundary of the channel aligns closely with the PRP zone at 0.6600, which also coincides with:
A prior supply zone (visible on higher timeframes).
Confluence of the 15 EMA (0.65692) and 60 EMA (0.65534) flattening out.
Psychological round number resistance.
Entry: 0.65700
Stop: Above 0.66064 (channel breakout invalidation)
Target 1: 0.6540
Target 2: 0.6500
Risk/Reward: ~1.8
(Warning: This is an early entry [med-high risk])
🧠 Psychology Insight:
The PRP concept helps frame trades around areas of emotional overextension—where traders may overcommit to a breakout. By identifying these zones in advance, you stay objective and avoid reactive decisions.
PRZ: Possible Reversal Zone
#AUDUSD #PRZ #Forex #TechnicalAnalysis #ChannelTrading #ReversalZone #PriceAction #MJFX #TradingPsychology #ToughButSuccessful
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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.
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.