jbourgault
Long

AUDNZD Long (weekly timeframe)

FX:AUDNZD   Australian Dollar / New Zealand Dollar
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5
44 0
This pair has a lot of potential on the upside. The current daily trend line has been broken and this time it doesn't seems like a false breakout.

I don't want to miss the trend so I'll enter 1/2 position now. However, I don't like to enter right after a breakout so I'll add to the position if the price pullback to the 0.5 fib retracement level at 1.0408.

Entry #1: market
Entry #2: 1.0408 (0.5 fib + support zone )
Stop: 1.0325 (last major low)
Target #1: will depend on price action (might take some profit along the ride)
Target #2: 1.1180 (1.618 fib ext + 0.764 fib retracement of last
R/R: 9/1
Trade active: If you're already in this trade, perhaps now is a good time to add. If you're not, time to enter long.

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