Predicting a short movement on AUDNZD.
This is a more long term trade with a larger R/R. The 382 fib was respected well from the 24th of June 19 and the 5th of July 19 and I normally like to trade off the second touch of it as I believe it holds some weight.
NZD was not strong enough to push past the red zone highlighted on the last occasion, however news from last night, albeit may not have been hugely significant for NZD but I believe it will be enough to test the green zone area highlighted.
Entry will be updated from 1H chart.
This is a more long term trade with a larger R/R. The 382 fib was respected well from the 24th of June 19 and the 5th of July 19 and I normally like to trade off the second touch of it as I believe it holds some weight.
NZD was not strong enough to push past the red zone highlighted on the last occasion, however news from last night, albeit may not have been hugely significant for NZD but I believe it will be enough to test the green zone area highlighted.
Entry will be updated from 1H chart.
Comment:
Decided not to enter this trade due to the last few candles on 4H chart. Blue zone highlighted seems to be offering some support. May be potential entry point over the next few days if this is broken. Will keep this idea updated.
Trade active:
This trade is well on its way now. Burst straight into the red zone. All the way down to the green zone area would be a great profit, SL has been moved to entry so now trading risk free.
Hope some got on this!
Hope some got on this!