AUDNZD Bullish flag inside a steep bullish channel on a 1H timeframe, all inside a global neutral channel. First trade will take advantage of the flag (TP - top of global channel, SL - candle bottom of the flag) and second trade will take advantage of the channel breakout on a 5% channel trigger (TP - previous historic pivot, SL - real channel boundary) - that way the trade is risking only the channel trigger margin.Things to watch out for: AUD Business conditions, confidence report(10/09), consumer sentiment(10/10) and manufacturing PMI(10/12)
Total possible profit = 104.8 pips
Total risk = 31.2 pips
1-winner/loser scenario = 42.7/30.9 pips
Trade closed: stop reached
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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.