Technician
Long

#AUDNZD: Monitoring For Long Confirmation - Update #forex

FX:AUDNZD   Australian Dollar/New Zealand Dollar
2362 36 13
Update: The price reached near first target then reversed, so i closed position near break-even
Profit/loss= 0

This is a follow-up on my previous idea, where i was looking for my long signal confirmation through a break above 1.0395-1.0400 Resistance level, indeed the price managed to break and hold above it, so i have initiated a buy limit order at 1.0395. For the reasoning behind my trade, check the previous idea on the related links below..

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game

Good luck, keep your stops tight..
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My best regards
Technician
My live trades here https://telegram.me/joinchat/DgsnQ0FzifLqyI2YAoMqqQ
vila
2 years ago
Very good signal on daily, I'm long from the break of PB nose (Support rejection and fakey)
Reply
ChimbOt PRO
2 years ago
Great stuff!, as always.
I wanna be like you when i grow up

+1 Reply
aryahi29 PRO
2 years ago
Nope, my indicators say it's a fake move up... Let's see!!
Reply
vila aryahi29
2 years ago
Everything is possible in the market
Reply
MisterTrader
2 years ago
More perspective on Daily, a lot of space for a long and double bottom !
Level To Watch: #AUDNZD double bottom in progress
Reply
MisterTrader
2 years ago
My related trade, for a Long too, but on daily :) good luck, we are on the same boat

#AUDNZD: Double Bottom on the Run
Reply
aryahi29 PRO MisterTrader
2 years ago
my expected best buy price is 1.034.. yes i'm also verybullish starting from there
Reply
WhiteBlue PRO aryahi29
2 years ago
bearish engulfing candle formed on daily chart on a downtrend. im bearish on this
Reply
Technician TOP WhiteBlue
2 years ago
Great, good luck
Reply
kmk.msp Technician
2 years ago
tecnician, whats your view now
Reply
Technician TOP kmk.msp
2 years ago
mate, we are currently retesting this level, I would love to see that level form a support now and hold. If its taken to the downside its likely that i will be stopped out, but so far, i am still hanging in the trade..
snapshot
Reply
MisterTrader Technician
2 years ago
haha me too, that's what I was especting my friend :)
Reply
MuathAlBulbul Technician
2 years ago
How about the current situation? What do you think we should do? Please reply ASAP
Reply
Technician TOP MuathAlBulbul
2 years ago
I dont make any recommendations, i show what i am doing and what i think about markets, its up to you to work your trades out...
Reply
MuathAlBulbul Technician
2 years ago
I mean, are you still convinced that it's going to pull up after it broke the down trend? Seems like it's still falling down.
Reply
Technician TOP MuathAlBulbul
2 years ago
Am no longer convinced, that's why i exited my long trade at breakeven
Reply
MuathAlBulbul Technician
2 years ago
Okay, I closed my trade too with a minor loss :). Thanks mate.
May I ask another question? I know that you are not about market prediction or anything, but is it safe to say that this pair is a good buying opportunity for a long-term point of view? I mean for a couple of years type of investment.
Reply
Technician TOP MuathAlBulbul
2 years ago
As a trader, i need to have a confirming signal of a potential long term bullish reversal. To attempt to pick bottoms and tops, you need to be a contrarian with a fundamental view.
Reply
MuathAlBulbul Technician
2 years ago
I get you. So, there is no clear signal for a reversal for this pair?
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Technician TOP MuathAlBulbul
2 years ago
not for me
Reply
kmk.msp Technician
2 years ago
people are talking about parity party and if this tuesday RBA cut the rate again, soon it will reach there
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Technician TOP kmk.msp
2 years ago
could be the case... no useful input from my side
Reply
Back on track
Reply
vila Technician
2 years ago
Now we have to broke 1.0428, my first target is 1.0520 (1.618 Fibo). Good luck
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Technician TOP vila
2 years ago
yes to you too my mate
Reply
MisterTrader Technician
2 years ago
indeed ! :)
Reply
BaseTrade
2 years ago
Thank you! Techician for your excellent setup in the longer time frame (daily). It has strong technical reason, clear entry point, stop and targets! Higher probability of winning vs losing! I'm still learning to be patient (not panic) and follow the plan! Famous quote from Jesse Livermore: "Buy right, sit tight."
Reply
I closed this position near break-even
Reply
vila Technician
2 years ago
I closed at 1.0449 just before the drop, lucky me
Reply
Technician TOP vila
2 years ago
hehe, thats great. Now, i only have the GBPJPY up and running for a while now, currently attempting a breakout...
Reply
vila Technician
2 years ago
I hope 189, good Luck out there
Reply
Casey_Yeo Technician
2 years ago
why bail out when the structure in H4 still showing HHHL with support around 350?
Reply
vila Casey_Yeo
2 years ago
You are right, I will be long again. We are at 50 Fibo of the last swing on daily, waiting for PA
Reply
Technician TOP Casey_Yeo
2 years ago
I will see if there is a new long signal, i would take it
Reply
vila Technician
2 years ago
I'm long again, nice PB on 60 min. Good luck
Reply
richeyeo
2 years ago
There is also a Bearish Cypher on M30, D pt will be at 1.0385. Another Bullish Cypher already at MP. I am Long all the way Up to 1.04
Reply
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