Technical Analysis and Trading Strategy for AUDNZD
The AUDNZD concluded last week on a positive note, signaling a prevailing influence of buyers. To consider trading opportunities, examine the 4-hour chart where the formation of a bull flag appears to be underway. Seek a robust, healthy candle to breach the upper channel, targeting TP1. Additionally, a strategic approach could involve placing a buy order from the highlighted demand area just below the bull flag and the path line. If there's further upward momentum with a strong impulsive buying candle beyond TP1, contemplate aiming for TP2 while adjusting your stop-loss after reaching TP1 or trail SL.
Note
TP1 hit,take your profit and wait for break of this level, check for demand around this area for entry and SL + your confirmation confluence.
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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.
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.