Here on the weekly from the monthly .
We have the support of the global range at r1
The macro range at r2
The testing for lower prices at the extreme
The divergence at r2 resistance on the 200ma at (2)
The top at (1) within r1 that push price into r2 that diverge with (2)..
As the (1) there is about 3600 -4k pip drop making the sc of 2015 starting the 8 into 9 year range r2 . Exactly 4 years later half way of the macro range the market preformed its first test.
And retest that Covid low on year later in 2020 forming the extreme of the support low of r2. With a lower low into liquidity with higher influence divergent the momentum at the 2nd test.
As the extreme, been tested price renters r2 and test the support and rose to the resistance r2 where sellers would naturally be waiting to sell from the 200ma .
From (2) Huge move into the range of low performance , a local huge move down and up put price into a local range within r2 as a symmetric triangle indicating a near soon breakout of r2
The market flavors a continuation of equal length and time with the global market conditions out of r2 placing solid price action below the support of r1.
And it’s best to follow the global layout until there is a solid change .
The first thing buyers will have to do to even really consider buying audnzd is break the divergence sticky trendline made at 2! Not practical but probably as anything is probably.. and higher timeframe sellers had already took action there therefore they will guard that high point ! (And within our simple strategy taught gives us #2 and 3 entrances)
Next we move into the daily
We have the support of the global range at r1
The macro range at r2
The testing for lower prices at the extreme
The divergence at r2 resistance on the 200ma at (2)
The top at (1) within r1 that push price into r2 that diverge with (2)..
As the (1) there is about 3600 -4k pip drop making the sc of 2015 starting the 8 into 9 year range r2 . Exactly 4 years later half way of the macro range the market preformed its first test.
And retest that Covid low on year later in 2020 forming the extreme of the support low of r2. With a lower low into liquidity with higher influence divergent the momentum at the 2nd test.
As the extreme, been tested price renters r2 and test the support and rose to the resistance r2 where sellers would naturally be waiting to sell from the 200ma .
From (2) Huge move into the range of low performance , a local huge move down and up put price into a local range within r2 as a symmetric triangle indicating a near soon breakout of r2
The market flavors a continuation of equal length and time with the global market conditions out of r2 placing solid price action below the support of r1.
And it’s best to follow the global layout until there is a solid change .
The first thing buyers will have to do to even really consider buying audnzd is break the divergence sticky trendline made at 2! Not practical but probably as anything is probably.. and higher timeframe sellers had already took action there therefore they will guard that high point ! (And within our simple strategy taught gives us #2 and 3 entrances)
Next we move into the daily