This is my 1:3 RRR opened trade on AUDNZD currently at profit but I will exit this trade as soon as I see rejection in my entry bias in higher time frame.
Price action looks bullish, trend is bullish. We may never get to this level, but if we do, it would be a nice opportunity Basing the analysis on volume and chart structure
we are at demand zone, based on chart and volume profile, if we don't bounce here we probably tank another 30%, let's see if it works
nice bullish trend in the big timeframes, we are facing big demand levels so I think we could bounce a little and maybe catch a nice gain let's see if we have hit enough demand for now or we'll continue to absorbe them and tank lower let's try
DOT seems is beeing repeating the same bar pattern when hit demand, I think this is an opportunity to risk some $$ having a decent R:R I don't see huge supply zone for DOT yet so maybe we can ride for more than 3R but hey, we have to pay ourselves from time to time I personally love to buy into a huge wick, let'see if this time works
we are approaching an interesting level of demand and we can easily bounce here, there is enough space to until the next decent resistance to try a 1 to 3 risk-reward trade
If we can get priceaction to decline going lower than 122.050 we may see a retrace. It seems like a bullish divergence on the RSI is in the making. I'm stalking this pair for a short term long. Trade with care :)