AUDUSD - Strong Rejection Ahead!

26 Ogo

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈AUDUSD has been hovering within a big range in the shape of a symmetrical triangle marked in blue.

Currently, AUDUSD is rejecting the upper bound of the triangle.

Moreover, the zone marked in green is a massive supply zone.

🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the supply zone and upper blue trendline acting as non-horizontal resistance.

📚 As per my trading style:
As #AUDUSD is around the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich