AUDNZD
AUD/NZD is on an up trend based on market structure on the Daily and Monthly time frames. Based on the 15 min Timeframe market structure is now beginning to develop for an up trend on that time frame. Once it creates its next higher low I hope to enter for a 20 pip gain. based on the market structure on the daily candle within the next few weeks this market should go up approx 140 pips to reach a price of 1.08812 or high. The price level of 1.08812 is a strong level so I would proceed with caution as It approaches this level . I personally do not stay in the trade for the entire time but jump in when the 15 min chart shows an uptrend and exit when the structure breaks. I will do this until it has reached its new high on the daily chart.
Trade active:
Entered trade at 1.0778 after a new higher low was created.
Trade closed: target reached:
reached target
Comment:
NEXT THREAD WILL SHOW HOW I RE ENTER AND WHY