As we can see from the chart, there was a good sell-off on this pair that led the price to move within this highlighted descending channel. Helping us with RSI and CCI, can be seen from the first one that has reached an oversold area from which the price often corrected and from the second that a divergence has formed. Otherwise, the highlighted area in green has...
AUDNZD has been relatively bullish and AUD/NZD has been beaten down
Going long here because there are a confluence of 4 factors as follows:
1) Stalling at 78.6 Fib
2) Oversold on 1hr, 4hr and daily time frames
3) Trend Line support (trend line from Sep 2016)
4) Also 1.0470 area has held ad horizontal sup
Normally I would like to see a price...
Was going through this pair when I saw a flag emerging. Price has touches and tested the support line various times (green arrow indicates the testing of the support line).
Hopefully this should be a strong upward trend which should hopefully break through the trendline.
Nice risk/reward ratio setup that will make you a lot of profit and won't eat into your...
i've been looking for this setup to complete for a very long time, now price has finally finished the AB=CD patterns i was paying attention to.
The reason why i was so interested in these pattern is because their completion point line up pretty well with a daily and weekly structure looking left.
Besides, also the 382 retracement of the bigger impulse...
At the moment, in the big picture we are forming an ABC zigzag correction pattern which will take us into the 1.07408 area in which price will continue upwards. For now we can short down to this level by taking flag breakouts in favor of the downside. We have just closed below an ascending triangle on the lower timeframes and this has lead me to go short taking...
Long Bias on FX:AUDNZD.
Price has created a new demand area on the daily chart.
New Price Structure
Price is creating new HH and HL
Price has bounced off of the Daily 50% fib Level
Targeting -27% fib extension which is previous weekly supply.
AUDNZD has pushed into overbought and the TDI suggests the BULLS are weakening.
SELL this pair with a STOP at 1.0950 (12 pip risk)
This is still a BULLISH pair so this is a scalp trade down to 1.0900 or lower depending on price action.
here on AUDNZD price has recently created new structure low. Besides, there's no structure looking left until 1,0750. That's why i want to get involved in this trend continuation trade.
As you can see, price is now coming back to retest previous support, which once broken could become resistance, and it's having some troubles getting beyond...
AUDNZD may pause for breath here as its impressive climb from the end of January pushes higher and higher into overbought territory and the BULLS exhaust themselves. Any pullbacks should be used as an opportunity to go LONG.
I wouldn't SHORT this market as this is a strong BULL run and prices could still head higher.
Better to wait to see if we get a...
here on AUDNZD we have no structure looking left on the higher timeframe. In cases like this i start looking for simple pattern formations, like flags, triangles and wedges in the trend direction.
On the chart above you have what could be considered a flag pattern that's been broken to the upside. Price is now retracing back and giving us a better risk to...
for those of you who day-trade advanced pattern formations there's a Gartley pattern completing at 1,0904s on 15m AUDNZD chart. I'm already involved with this pair (see attachment) so i'm not taking this one, but i wanted to share with you anyway,
Stops above X, targets as usual for pattern (better risk/reward ratio with such a deep Gartley).
If you want...