AUDNZD - Possible Short Position
Please give me some feedback and let me know what you think.
Multi time frame Analysis
1D Time Frame price is in a steam strong downtrend and respecting 50EMA and bounce from trendline giving a Short Bias
1D Time Frame Fib retracement zone lines up with trendline and 50EMA signaling a strong zone
1H time frame price current Long Bias as price broke trend line and structure, this signals a start of the retracement
Setup and Entry
Wait for price to reach Fib Zone and clear Price Action reacting to Zone
Enter at the break of the short term Trendline and 50EMA
Multi time frame Analysis
1D Time Frame price is in a steam strong downtrend and respecting 50EMA and bounce from trendline giving a Short Bias
1D Time Frame Fib retracement zone lines up with trendline and 50EMA signaling a strong zone
1H time frame price current Long Bias as price broke trend line and structure, this signals a start of the retracement
Setup and Entry
Wait for price to reach Fib Zone and clear Price Action reacting to Zone
Enter at the break of the short term Trendline and 50EMA