Technician
Long

AUDNZD: Time to Buy , Going Against the Crowd!

FX:AUDNZD   Australian Dollar / New Zealand Dollar
612 14 10
Update:Trade Cancelled. RBNZ raises 2015 GDP growth to forecast to 3.2% vs. 2.8%. 2016 growth est. up to 2.2% vs. 2.1% previous
RBNZ says it sees inflation reaching the 2% midpoint in Q2 2014.
Head of central bank expects a 125bps of increases this year! a new tightening cycle starts
Unexpected strong revisions, and therefore I believe there is new information here. Accordingly, I cancel this trade for now.

I am looking for a bullish rebound, speculating on a potential buy the rumor sell the news event, i mean as the RBNZ is widely expected to hike rates by 25 bps             , market has been pricing in this decision for the past weeks, and i think there is limited downside for the pair following the decision. Alternatively, if the RBNZ fails to meet market expectations and surprisingly doesn't hike* rates, that would result in a major rally.

Technically, the completion of a three drive pattern supports the idea of a bullish rebound, in addition into a potential bullish divergence on RSI Momentum.

Keep stops tight and good luck

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That was a missed trade.
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@Technician
is it still a valid chart? i've entered at 0576
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Technician Flight OpsOfficer
Technically, the setup is still valid and may work. But am concerned about yesterday's new fundamental information. So that made me concerned, and when i am concerned i get pulled out of my comfort zone, and at the end well result in mismanaging the trade. So i prefer staying aside
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Technician Technician
Trading is a very personal activity :)
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i like it. not to mention this stupid looking gartley that got no reaction at 78.6
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Ozayevable Ozayevable
and this 5-0 is still valid as long as the low holds.
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Ozayevable Ozayevable
that or im looking for excuses to buy this cherry.
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