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AUDNZD trade ideas

AUDNZD (Elliott Wave)Hello friends In the AUDNZD currency pair, we see the completion of 5 full bearish waves. These 5 waves are in a descending channel. Therefore, we can consider it as a corrective wave A. Now the first thing that comes to mind is the beginning of wave B. But what is the condition for the formation of wave B? The first case is the formation of a higher high (HH)and the second case is the breaking of the downward trend line formed on the roof of the channel. So, to start a buy trade, you can wait for the break of the downtrend line of the channel and pullback to it. The first target is 1.08500 and the second target is 1.09500. If the price fails to break the channel and make a lower bottom, our theory will be invalidated. To support me, I recommend that you install Trading View software on your phone and see my analysis and support me with your comments and Boost. Be successful and profitable.
Long
by M_Gheysvandi
1
AUD/NZD ShortContext: • Monthly neutral / sideways • Weekly bearish FVGs, ignored bullish order block • Clearly bearish Idea: • Short at daily FVG Entry: • Entry Range: 1.0774 to 1.0787 • Entry Signal: Reversal Setup on 30min - 1h Scenario: • Liquidity sweep above 1.0774 (dashed line) • Avoid building a FVG on 4h Stop: • Above your Reversal Setup / Entry Setup Scenario invalidet • 4h Close above 1.0771 → Next location would then be 1.0806 Please leave a comment if you have any suggestion or question.
Short
by MichaelBw
AUD/NZDThe inverse head and shoulders pattern is a popular chart formation in technical analysis that is often used to predict a reversal in a downtrend. Here’s a breakdown of the pattern: Structure of the Inverse Head and Shoulders Pattern Left Shoulder: The price declines to a trough and then rises. Head: The price declines again, forming a lower trough. Right Shoulder: The price rises once more, declines but forms a higher trough than the head. Neckline: A resistance level formed by connecting the highs after the left shoulder and the head. How to Identify the Pattern Downtrend: There should be a preceding downtrend to reverse. Left Shoulder Formation: The price drops to a low (left shoulder), then rises. Head Formation: The price drops again to an even lower point (head), then rises. Right Shoulder Formation: The price drops but stays above the previous low (right shoulder), then rises. Neckline Break: The pattern is confirmed when the price rises above the resistance level (neckline). Trading the Inverse Head and Shoulders Pattern Entry Point: Traders typically enter a long position when the price breaks above the neckline. Stop Loss: A common place to set a stop loss is just below the right shoulder or the head, depending on your risk tolerance. Price Target: The price target is often determined by measuring the distance from the head to the neckline and projecting this distance upwards from the neckline breakout point.
Short
by B9A-88652-NisarAhmad
AUDNZD - Look for Continuation Long (SWING) 1:4!The price is currently forming a symmetrical triangle chart pattern on the Daily Time Frame (DTF) for AUDNZD. The strategy involves waiting for the price to convincingly break the descending trendline (TL) and exercising patience within the demand zone before initiating a trade. This analysis is particularly relevant on higher timeframes such as H4 and D. Additional support for this setup comes from a Double Bottom Chart Pattern on the Daily (D) timeframe and the presence of a weekly (W) trendline. This is considered a promising setup, contingent on certain conditions. It's essential for swing traders to implement proper risk management, setting a Stop Loss (SL) around 40 pips. However, it's important to note that a breakout may not occur immediately, especially considering that AUDNZD is classified as a minor currency pair. Disclaimer: This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
Long
by S-Fx_