The Aussie Dollar is under some pressure after those soft CPI numbers. Looking at the charts, I am assuming it is exhaustion for this pair and a clean rising wedge, and the Elliott Wave count (A-E) looks complete right at the resistance ceiling.
Technical View: I'm seeing a classic rising wedge reversal pattern. Momentum is fading even as price edges higher, which for me is a clear sign of a trend shift.
The Goal: I’m looking for a break below the wedge to confirm my move back toward the 1.19370 support level.
I like to keep it simple—when the macro data misses and the chart shows this kind of wedge, I find the path of least resistance is usually down.
#AUDNZD #Forex #ElliottWave #TradingView #TechnicalAnalysis #Macro
Technical View: I'm seeing a classic rising wedge reversal pattern. Momentum is fading even as price edges higher, which for me is a clear sign of a trend shift.
The Goal: I’m looking for a break below the wedge to confirm my move back toward the 1.19370 support level.
I like to keep it simple—when the macro data misses and the chart shows this kind of wedge, I find the path of least resistance is usually down.
#AUDNZD #Forex #ElliottWave #TradingView #TechnicalAnalysis #Macro
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The core pillar of a systematic approach to the markets is recognizing when a idea is no longer viable, the structural parameters required for execution have been officially invalidated. In my a rules based framework in my view, a broken structure is an immediate mandate to stand aside. Protecting capital by letting an invalid setup go is just as critical to long-term portfolio performance as executing a winning trade.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.