Technician

AUDUSD On my radar as it reaches potential reversal zone #forex

FX:AUDUSD   Dólar Australiano/Dólar Americano
Watching few pairs closely next week for potential trades, one of them is the AUDUSD as the price forms a bearish three drives pattern(symmetrical waves). The potential reversal zone of the three drives is also near the main long term falling trend line. Slightly above that there is a cluster of horizontal resistance area. Finally, there is a clear bearish divergence on Fisher indicator.

My process is to spot these areas of interest where i will be looking for the trade. But as a trader, i know that patterns will fail, so i prefer to always wait for a final trigger confirmation which in my view increase the chances of setup success dramatically.

Keep posted and have a great weekend and new week.
Technician
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