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AUDNZD - Are we getting ready for a Change of Trend?

The Story :

  1. We have hit a Major Resistance coming from the Daily Chart.

  2. We had a fast move up and the then a fast move down

  3. Approaching Demand Line - check if they are still buyers there

This is no indication for trading yet, this is just an alert to monitor. We need to see the Demand Line breaking and examine the retracement. Remember in order to jump to a down trend we need down waves to be higher than up waves and down pip waves to move linearly.



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