BannaKhan

Is it time to change the course of action for AUDNZD??

Long
OANDA:AUDNZD   Australian Dollar / New Zealand Dollar
Hello traders,

As you can see, on the daily chart we have a very nice setup. Recently this pair has hit the bottom. Similar bottom we had in June 2017. From that bottom it has also created a double bottom recently which suggests a reversal. Also the current daily green candle engulfs the previous red candle which is an indication of bullish momentum.

Everything adds up to go long on this pair. We should see a strong push up anytime soon. This is a long term trade with tons of pips on offer. I will be placing a tight stop loss and keep the trade for at least couple of weeks. Risk and reward is amazing for this trade.

Let me know your thoughts.

Trade safe and good luck.
Trade closed: target reached: I have closed half of my position and taken 180 plus pips. Moved my sl to the previous support level to enjoy the remaining pips.

I hope you enjoyed as well.
Trade closed: target reached: Closed my 2nd position with a whooping 305 pips.