📅 Let's delve into analyzing the AUDNZD currency pair for futures trading on the first day of the trading week.
🏗️ In the daily timeframe, we've reached a crucial point, the long-term box ceiling, which marks a significant juncture on this chart.
⏳ On the 4-hour timeframe, following a notable uptrend towards the daily resistance (box ceiling), we're currently undergoing a consolidation phase.
📈 For a Buy position, the entry point is clearly defined. Once we breach the 1.09109 resistance level and confirm it with a candle, along with the presence of buyers, we can initiate our long position. However, it's important to note that if the resistance of a higher timeframe is broken, there might be upward oscillation. Hence, we'll maintain a tight stop-loss to prevent getting prematurely ejected from the market.
📉 Regarding a Sell position, we presently observe an uptrend line. Given that we've reached the box ceiling and the box's characteristic oscillation between the ceiling and the floor, we can anticipate confirming the trend reversal sooner and subsequently open our short position upon breaking this trend line.
🛑 It's crucial to keep in mind that the stop-loss for the short position should be smaller. This is because if it's triggered, we must be prepared to open a long position and overcome the resistance!
💼 Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
🏗️ In the daily timeframe, we've reached a crucial point, the long-term box ceiling, which marks a significant juncture on this chart.
⏳ On the 4-hour timeframe, following a notable uptrend towards the daily resistance (box ceiling), we're currently undergoing a consolidation phase.
📈 For a Buy position, the entry point is clearly defined. Once we breach the 1.09109 resistance level and confirm it with a candle, along with the presence of buyers, we can initiate our long position. However, it's important to note that if the resistance of a higher timeframe is broken, there might be upward oscillation. Hence, we'll maintain a tight stop-loss to prevent getting prematurely ejected from the market.
📉 Regarding a Sell position, we presently observe an uptrend line. Given that we've reached the box ceiling and the box's characteristic oscillation between the ceiling and the floor, we can anticipate confirming the trend reversal sooner and subsequently open our short position upon breaking this trend line.
🛑 It's crucial to keep in mind that the stop-loss for the short position should be smaller. This is because if it's triggered, we must be prepared to open a long position and overcome the resistance!
💼 Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
