Rich_From_Home

AUDNZD Retest (False break)

Long
Rich_From_Home Updated   
FX:AUDNZD   Australian Dollar / New Zealand Dollar
It can be seen on the AUDNZD chart price bounces on the strong resistance become support and it shows that the price is Retesting, with a strong bounce in the area with the formation of a bullish candle and the formation three line strike (not perfect)

Entry: can enter now to try to get a sniper entry (quite risky), or wait for the next candle.
If u entry now and the next candle don't show a strong up, then you have to be careful , because it should be after a strong price bounce and confirmed by price action. then the next candle should show a strong rise

SL : 1.0792 (50 pips)
TP 1 : 1.0889 (+1)
TP 2 : 1.0947 (+2)
TP 3 : 1.1039 (+3.9)
Trade closed: stop reached:
this is the dilemma of being a sniper entry, sometimes waiting for confirmation and being patient is better than trying to get the initial price.

if you enter early you can cut half and buy it again when the price goes up (breaks the bullish candle), or just let it be patient enough
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.