I predict a downfall on AUDNZD
Here are my reasons...
1. Prior to price intercepting the uptrend on the daily chart, price has formed a downtrend (channel) on the H4 time frame.
2. Price has intercepted the previous HL thus creating a new LH AND LL.
3. Price is heading towards point 3 to create a new LH, AND THAT'S WHERE I EXPECT SELLERS TO COME IN PUSHING PRICE DOWN AND DOMINATE IT.
SO, (although price seems to be heading up, i wouldn't advice anyone to buy but to wait for the perfect moment to sell at 3)
1. Prior to price intercepting the uptrend on the daily chart, price has formed a downtrend (channel) on the H4 time frame.
2. Price has intercepted the previous HL thus creating a new LH AND LL.
3. Price is heading towards point 3 to create a new LH, AND THAT'S WHERE I EXPECT SELLERS TO COME IN PUSHING PRICE DOWN AND DOMINATE IT.
SO, (although price seems to be heading up, i wouldn't advice anyone to buy but to wait for the perfect moment to sell at 3)
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