AUDNZD - Short - Bearish Bat Short

Australian Dollar/New Zealand DollarFXCM

Description

⋅ Jul 16, 2018 1:13 AM

Bearish Bat setup with extremely tight PRZ. Looking for last week's close to act as tough resistance

OBV in important resistance zone and RSI bouncing on resistance nicely.

Both RSI and OBV bearish divergence on the 1D and bearish OBV divergence on the 1W.

I often trade this pair based on whether AUD or NZD is stronger against the dollar and the Kiwi has opened the week with more strength.

looking for shorts between 1.097-1.098. Already entered at 1.0965.

SL above X (1.09925)

1.09 and below is my current target

Comments

macdizzle

⋅ Jul 22, 2018 2:47 AM

i dont make them look pretty - and im still learning but i love using the ichmoku to trade with harmonics - the disequilibrium with the kijun or cloud really helps in judging the likelihood of the reversal

actavis89

⋅ Jul 22, 2018 3:14 AM

@macdizzle, I only recently learned harmonics and the ichimoku so don't feel far behind. Yes I like how the cloud can act as a magnet when paired with harmonics/divegences

macdizzle

⋅ Jul 22, 2018 3:18 AM

@actavis89, that buttefly or crab on usd/jpy that played out on friday was a wetdream set up - i want to trade something like that again

macdizzle

⋅ Jul 22, 2018 3:19 AM

@macdizzle, but yeah they can confluence the chart idea real good