FX:AUDNZD   Australian Dollar / New Zealand Dollar
247 5 16
AUDNZD             reached its Time at Mode target indicated by the blue arrow during todays             trading session. The bounce seen at this price coupled with the bullish 4H RSI divergence shown with the light blue lines makes this an attractive pair to long in the event of a trend resistance break as shown with the red line.

I'll be watching this pair in the early trading days next week for a potential entry similar to the one shown, targeting the 1.056 area.


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Comment: Looks like the blue arrow I mentioned didn't show up on the chart... Anyway the area I'm talking about is where the lower green box intersects with the light blue RSI line.
Trade active
It could form a bottom around here indeed. This pair is a bit tricky though, rarely trends for long.
Cheers.
+1 Reply
QuileHills IvanLabrie
It definitely can be tricky, I usually stay with smaller positions on AUD and NZD pairs to minimize risk.

Still getting the hang of Time at Mode analysis.
Reply
IvanLabrie QuileHills
You're off to a good start, there's a lot to digest, but it can be a very powerful analysis tool.
Stop by the 'Key hidden levels' chatroom if you want to learn a bit more.
You can join our team ;)
Cheers!
+1 Reply
QuileHills IvanLabrie
Sounds great! I have to head out for the rest of the night but tomorrow I'll get in there. Thanks!
Reply
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