awaiting price action to see if we can catch a short long on this pair. with all the uncertainty at the minute this pair has just been consolidating in this range will it rise from this previous support area.
AN long. Waiting for a pull back to the purple box area given, this also lines up with the ascending trend line as well as the 61.8 fib level for us to look at taking a long trade.
Take partial profits.
200 PIP GAiN 9/1 RR
I think the chart shows it all here.
We have a longer term trendline acting as support and a clear trendline break upwards complete with a nice pullback for a good looking long entry.
The only thing the chart doesn't show is why I've set the exit point to where I have... My exit is sitting just below the 200EMA.
Price has been dropping steady into the dollinger bands, MACD and stochastics in the over bought zone, RSI and CCI have also crossed
Waiting for the PSARs to flip to the underside and enter for a buy and climb up to the 50 MA
Any feedback always welcome
We have seen a tremendous downtrend in last couple of days and price has reached to major level of structure from where we see price reacts and we have a nice reversing candle on the 4h chart sitting at bottom suggests a trend reversal for now.
I have gone long and marked tp and sl for you as well.
Let me know your thoughts.
Trade safe and good luck.
AUDNZD - Possible longing opportunity.
Last two days have tried to close below the 1.07 even handle but failed twice.
AUD seems to be gaining in strength the last few days of last week noticeably against the USD.
Once i get my signals of a long i will be opening a trade.
Any questions feel free to drop me a message or a comment and i'll be willing to offer...
Price previously broke through the support and is showing potential to re-test and continue moving bearish to our target at 1.07667. Stop loss is marked at red price level and entry at the grey price level.
Risk to reward 1:2
Equity risked 1% risk no more than 2%
As AUDNZD has been moving sideways since mid 2014, I expect this pattern to continue with this recent breakout on the daily chart. This could continue until it hits the upper trend line in time which leads into a historical channel.
We have 4H confirmation of this trend, awaiting the daily candle to close above 1.0468.
SL: 1.044 (varies depending on...
We are approaching the key fib level + previous zone of reversal
Head and Shoulders also forming
MACD convergence as well
Should be a very nice buy opportunity!!
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the forex market and by no means require action!
3. Trading involves risk, past profits...