QUICK ONE! | PRICE ACTION WEDGES THE AUSSIE | AUDNZD (1H)

This is a follow-up structure on the long term speculation published earlier (see link below for reference purposes);

Tendency: Uptrend ( Bullish )
Structure: Falling Wedge | Support & Resistance
Observation: i. Wedge pattern depicts the trend is making a final downward move towards 1.05700 zone.
ii. We can not ignore the convergence as the price slides thereby losing momentum as buyers step in to slow the rate of decline in price.
iii. Anticipating a Wedge breakout to signal an uptrend.
iv. Price climbing the Moving Averages on the lower time frames.
Trading plan: BUY at breakout with TP1 and TP2 (150pips) and SL @ 1.05200/1.05000zone.

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.

Watch this space (https://t.me/nirvanaconsorts) for updates as price action is been monitored.


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