audnzdWhy are we entering?
- We are within a descending channel and a descending wedge indicating bullish reversal
- 2 areas. Recent bottom or bigger double bottom
- Expecting NZD Weakness
What are we waiting for to happen?
- Bounce off the recent structure bottom
- Break of WFB for confirmation
- If recent bottom breaks, look for double bottom
What is our confirmation?
- Bounce off one of the levels mentioned
- break of WFB trendline
Entry
SAFE Entry: Bounce of structure and then WFB
Risk Entry: Structure rejection
Once entered, where will our Stoploss be?
- Below the area where price bounces off
Where do we take profits?
- First TP: 1.053
- Second TP: 1.06
Audnzdlong
AUDNZDBullish Indicators:
1) Support zone at 1.04080 Fib level 61.80%
Bearish Indicators:
1) LH LL
2) Downward trend
3) Resistance zone at 1.04471 or upward descending trendline.
Plan A: One can take a short position on the rejection from the upward descending trendline for the target of 1.04080 and 1.03522
Plan B: On the breaking of upward descending trendline with a good bullish candle one can take long position for the target of 1.05277.
AUDNZD's Set to Resume Its UptrendHello fellow risk-takers,
AUDNZD is set to resume its uptrend following a deepening retracement. The pair is basing out building a bullish momentum indicating the retracement may be over.
The pair can be expected to fetch at least 200 pips. A medium-term holding stamina may be necessary.
Trade well and take care.
____
*This information is presented for entertainment purposes only and shouldn't be construed as investment advice.
AUDNZDBullish Indicators:
1) HH HL
2) Support zone at 1.05491 Fib level 50.00%
3) Uptrend/Ascending channel
Bearish Indicators:
1) Resistance zone at 1.06132 Fib level 61.80%
2) Breaking of lower trendline
Plan A: One can take a long position on the bounce from the support level 1.05491 Fib level 50.00%.
Plan B: One can take a short position on the breaking of lower trendline for the target of 1.04854.
AUDANZ : LONGEST HELD TRADE FOR ME (LONG)Trade Management
1st trade entered on sept 28 targeting top of daily channel.
sl now on trailing stop - trailing stop at second entry
2nd entry sl now at b/e. entered after a break of consolidation to the upside. targeting top of the daily channel.
RISK FREE TRADE NOW.
If my second entry long gets stopped out im only down on switch fee. the first entry would be stopped on a profit.
HOPEFULLY NOT ON STOPS!
cHEERS TRADERS! CAPITALCOM:AUDNZD
MM's daily technical analysis - LONG AUDNZDHi traders,
In the past few days, we have witnessed AUDNZD went through mid-term consolidation in both the hourly chart and the daily chart.
Yesterday night we have witnessed a clear breakthrough of the 1.05 level and the upward momentum was strong, which leads us to believe it's a start of a mid-term uprise and the downward channel start from June 18th has finally ended.
My own trading system Clam has also given a buy signal which matches my judgment to long thus a trading idea to long AUDNZD has now been established.
OP: 1.05300 SL: 1.04300 TP:1.0800