AUDNZD at institutional supply zone w/ TRIPLE TOP.
Aussie Kiwi is trading at the recent top and institutional supply zone. Price rejecting from here would create a triple top, thus zone here is very good for shorting the pair. If we take a look at the wicks (on lower timeframes), buyers seem to be exhausted. Also a lot of shorts have been added to AUD in general by institutions so weakness is possible across Aussie pairs.
Ideally we would like to see price surge to trap breakout traders and people buy in followed by strong rejection and a nice pattern to short the pair.
But, if we don't see that, plan B is to wait for impulse move down and then a correction to get a nice entry.
Ideally we would like to see price surge to trap breakout traders and people buy in followed by strong rejection and a nice pattern to short the pair.
But, if we don't see that, plan B is to wait for impulse move down and then a correction to get a nice entry.
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