AUDNZD daily analysis 🦐AUDNZD on the weekly chart hit the important psychological level around 1.10 and got sharply rejected.
Price couldn’t break the level and started a slow retracement waiting for the bulls to come back.
At the moment on the daily chart price is testing a support on a daily resistance.
IF the market will manage to break and close below it, at the retest of the structure, we can set a nice short order according with PLancton’s strategy.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Aud-nzd
Some lovely open positions - 5 min quick recap!Some momentum entering the markets over the last week to 10 days as move into the last month of the quarter.
Summer months can lack trading volume, so lets see how the quarter end.
We currently have a couple of projects ongoing with out community so we have been a little quiet on here over the last few days.
I thought I would share however, a quick recap on some lovely developing moves.
Its only 5 mins, grab a brew and have a watch!
Thank you
Darren
AUDNZD: Wedge Breakout & Bullish Continuation
AUDNZD is trading in a sharp bullish trend on a daily.
from the 18th of August, the pair is consolidating within a falling wedge pattern.
this night the market broke and closed above its resistance line on 4H.
with a retest and positive reaction, chances are high that the pair will keep growing.
target levels:
1.0985
1.102
AUDNZD finally breaks below the 1.09375 levelBeen watching this pair for a while. Actually took a loss near the end of last week when I went long. Now that price is trading below, I am now bearish for a couple of reasons.
1. Price hasn't made a higher high since the morning of August 18th.
2. Price made another push higher, but was followed by indecision. This is the first indication that buying pressure has weakened. The origin of this push higher was at the 1.09375 level, which is why it's key to watch how price trades here.
3. Price broke above this level briefly on August 28th, but price did not sustain above.
Corrective Structure and new impulse / AUDNZD Main items we can see on the chart:
a) The price is above a Resistance level now working as a support
b) Generally, after the breakout of any area, the price will tend to correct creating a pullback/throwback to the previous zone
c) Now we can see the price doing that towards the support zone
d) If the price reaches that level, we will pay attention to the breakout of the structure and we will look for a trade setup towards the next resistance zone (descending trendline)
AUDNZD possible scenarios 🦐AUDNZD is on a bullish trend and market on the daily chart in a consolidation move at the top of the trend near a weekly resistance.
The market on the 4h chart is creating a symmetrical triangle that could make us at a continuation of the trend.
IF the market will break above the weekly structure we can set a nice long order according with Plancton's strategy.
On the other scenario IF the market will break below the 4h support structure we can look for a short order till the daily structure below.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
AUDNZD: Harmonic Trading - Gartley Pattern
Bearish Gartley is forming on AUDNZD.
1.102 - 1.104 is the pattern completion point.
from there a retracement will be expected.
target levels:
1.0995
1.0972
p.s
harmonic patterns are traded with limit orders.
in case of a bearish continuation and violation of the A point, pattern will be invalid.
AUDNZD - SWING - 24. AUGU. 2020Welcome to our weekly trade setup ( AUDNZD )!
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1 HOUR
Very bullish price action and pressure.
4 HOUR
Jumping on midterm uptrend with good long entries!
DAILY
Overall bullish market in consolidation, looking for another push.
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FOREX SWING
BUY AUDNZD
ENTRY LEVEL @ 1.09650
SL @ 1.09360
TP @ 1.10310
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
AUDNZD on a retracement move 🦐AUDNZD after the sharp bullish move is now looking for a retracement.
Market respected the upper part of the uptrending channel and will look now fot the lower part of it.
We will wait for retracement to end to look for an inversion sign at the 0.382 fib level.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Recent AUD/NZD Long Trade Using ResistanceI caught a nice trade here yesterday on AUD/NZD.
Price had recently broken through resistance, and we saw a strong bullish break out move.
As the bullish momentum slowed down, we saw bears come back into power and drove the price back down to resistance. At this pint, we need to look for 2 actions:
- Either price will break through the resistance level and the bearish move will continue, most likely down to previous support levels in which you could enter a short trade when the break through is confirmed.
OR
- We will see a rejection at the trend line where the price is struggling to break through the resistance, and bulls come back into the equation to drive the price upward. This is when you can enter a long trade.
After identifying the rejection at the trend line, also in line with the MACD and RVI, I entered a long trade and banked a nice profit before bears came back into power and drove the price down.
Support and resistance levels can be used to identify some lovely trade setups, as we have seen with AUD/NZD.
AUDNZD Within the RANGE: Key Levels & Structure
AUDNZD is unstoppable.
the pair keeps growing like crazy, breaking multiple daily levels.
big picture helps to identify the goal of buyers:
on a weekly, the price is clearly trading within a wide horizontal trading range.
1.2 - 1.3 is its resistance and it looks like buyers will do everything to push the market to that target.
only from that area, it would be safe to look for long term short opportunities.
1.0 is the support of the range.
just remember that level. place the alert on that and once the market reaches that,
It will be a very safe level to buy from.
good luck
Don't miss the great sell opportunity in AUDNZDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.102). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDNZD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 37.
Take Profits:
TP1= @ 1.0965
TP2= @ 1.0925
TP3= @ 1.0910
TP4= @ 1.0880
TP5= @ 1.0845
SL: Break Above R2
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Don't miss the great sell opportunity in AUDNZDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.102). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDNZD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 37.
Take Profits:
TP1= @ 1.0965
TP2= @ 1.0925
TP3= @ 1.0910
TP4= @ 1.0880
TP5= @ 1.0845
SL: Break Above R2
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AUDNZD Price is looking like it's ready for a pullback! This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Let’s make some money together!
AUDNZD Update: Profit=863 SL=120 Reward/Risk > 7.2:1 Trade Setup summary:
Profit targets=863 pip (60 + 110 + 173 + 230 + 290)
Stop Loss =120 pip
Reward/Risk > 7.2 : 1
Current Status:
Total Profit: 649 pip
Closed trade(s): 649 pip Profit
Open trade(s): 0 pip Profit
Trade Setup:
We opened 5 BUY trade(s) @ 1.0676 based on 'previous Forecast' at 2020.07.27 :
Closed Profit:
TP1 @ 1.0890 touched at 2020.07.27 with 45 pip Profit.
TP2 @ 1.0867 touched at 2020.07.28 with 72 pip Profit.
TP3 @ 1.0813 touched at 2020.08.04 with 137 pip Profit.
TP4 @ 1.0748 touched at 2020.08.10 with 191 pip Profit.
TP5 @ 1.0721 touched at 2020.08.11 with 204 pip Profit.
45 + 72+ 137 + 191 + 204 = 649
Technical analysis:
. AUDNZD is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 45.
New Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (1.0880) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
New Take Profits:
TP1= @ 1.0940
TP2= @ 1.0990
TP3= @ 1.1053
TP4= @ 1.1110
TP5= @ 1.1170
SL= Break below 1.0856
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AUDNZD Update: Profit=863 SL=120 Reward/Risk > 7.2:1 Trade Setup summary:
Profit targets=863 pip (60 + 110 + 173 + 230 + 290)
Stop Loss =120 pip
Reward/Risk > 7.2 : 1
Current Status:
Total Profit: 649 pip
Closed trade(s): 649 pip Profit
Open trade(s): 0 pip Profit
Trade Setup:
We opened 5 BUY trade(s) @ 1.0676 based on 'previous Forecast' at 2020.07.27 :
Closed Profit:
TP1 @ 1.0890 touched at 2020.07.27 with 45 pip Profit.
TP2 @ 1.0867 touched at 2020.07.28 with 72 pip Profit.
TP3 @ 1.0813 touched at 2020.08.04 with 137 pip Profit.
TP4 @ 1.0748 touched at 2020.08.10 with 191 pip Profit.
TP5 @ 1.0721 touched at 2020.08.11 with 204 pip Profit.
45 + 72+ 137 + 191 + 204 = 649
Technical analysis:
. AUDNZD is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 45.
New Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (1.0880) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
New Take Profits:
TP1= @ 1.0940
TP2= @ 1.0990
TP3= @ 1.1053
TP4= @ 1.1110
TP5= @ 1.1170
SL= Break below 1.0856
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
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💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️