VIP - AUDNZD - LONG
See below
Note
Why are we entering?- The bearish fibonacci target of -0.27 of the last bearish move ends at our reversal zone of 1.3
- Expecting NZD weakness
- We are within a descending channel which is often a reversal pattern
- Bigger timeframe parallel ABC correction
What is our confirmation?
- rejection of -0.27 fibonacci
- Rejection of 1.3 level
- Break of descending trendline
- Break of descending channel
Entry
- SAFE Entry: Bounce off 1.3 and then break of descending channel
- Risk Entry: Bounce off 1.3 and break of descending trendline
Once entered, where will our Stoploss be?
- below 1.026
Where do we take profits?
First TP: 1.06 (300pips)
Second TP: 1.08 (500pips)
Note
Want more chart ups like this? Click the links below:
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Want more chart ups like this? Click the links below:
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.