AUDNZD BEARISH FLAG PATTERN
AUDNZD is making a perfect bearish flag pattern where we can see that it is a downward trend and then there is a flag like formation.
There is no divergence can be seen in RSI and the movement is between 30 and 70
I will take a Short trade entry where the pole ends i.e. 1.067
My Stop Loss is above the top of the flag pattern i.e. 1.0730
I will use the length of the pole of the flag as projection for profit.
My TP1 is at 1.0622
My TP2 is at 1.0569
There is no divergence can be seen in RSI and the movement is between 30 and 70
I will take a Short trade entry where the pole ends i.e. 1.067
My Stop Loss is above the top of the flag pattern i.e. 1.0730
I will use the length of the pole of the flag as projection for profit.
My TP1 is at 1.0622
My TP2 is at 1.0569