AUD.NZD > Buy The Breakout

FX:AUDNZD   Australian Dollar / New Zealand Dollar
Currency Pair: AUD.NZD
Time Frame: 4hr
Predicted Direction: Long

Live AUD.NZD updates will be available in the comments section below.
Comment: A pair still on my radar into this evening.
Comment: Buy stop order now in place.
Comment: AUD.NZD Breakout occurring.

Comment: Perfect setup, pinpoint accuracy, however failed to trigger our buy stop order before it was cancelled.

This is a perfect example of a textbook setup, however our rules are more important that 1 win.

maybe we can catch it with a retrace . a question where do usually put the order in this case? on the retest or the break of the candle ?
@TAJIR_B, On this particular setups i don't trade break and retest as they are not a daily support / resistance, trendline ect.
+1 Reply
@TomHall, thanks
i3syst3m TomHall
@TomHall, Hi, in your opinion 1.09100 is good for TP ?

Please declare your analysis for TP ,Thank you
Don't know the rule to trigger the trade, feel confused...could you even tell a little about the principle of the rule to trigger the trade such as momentum or anything else to consider for the case like this? Thank you.
TomHall shenxiaoxuan
@shenxiaoxuan, I can't give information on the entry strategy, however what i can say to give more clarity is we set on this occasion a buy stop order, the order was set at a level that confirms a breakout, this was not triggered by 22:00 London time so the pending order was cancelled.
+1 Reply
TomHall shenxiaoxuan
We don't trade the initial breakout as many can get caught with false breakouts and there is a higher percentage of loss.
I didn't have the chance to get this pair. Lol!
@jtiwag, There is always more :-)
Thanks for your post. Following you has made trading profitable. May The Lord continue to bless you and your household.
+1 Reply
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