AUDNZD: Short Term Sell Setup

Having identyfied price slope at the daily chart of AUDNZD we may see that price has reached the upper quartile of a long term downslope median line set and we should start looking for a sell setup to complete at that level. In MACD we have a bearish divergence showing this upmove is about to end and what i will personally look for is a breakout below the wedge price is moving in, followed by a correction which when it ends with a new breakout i will join the shorts. I will update if anything interseting happens, so follow and like to get the updates..!

Valid slope median line set:

Commentaire:

Price has broken below the rising channel and it's in a consolidation. We should start now looking for a sell setup to complete. I personally will wait price to reach the upper parallel of the median line and look for a rejection

Commentaire:

For those who trade harmonics we have a pending bearish cypher which completes almost at the same level of the upper parallel