AUDNZD LONG 4 HR BREAK AND RETEST TRADE SETUP Long

Australian Dollar/New Zealand DollarFXCM

Description

⋅ Jan 4, 2017 7:55 AM

Hi everyone:

Here is a good opportunity on AUDNZD long, any feedback and comments are greatly
appreciated it.

Thank you

Trade: #2 (2017)
Date: 01/04/2017
Time: 07:00 GMT
Forex Pair/Commodity: AUDNZD
Position: BUY (LONG)
Reward/Risk: Potential 6:1

Enter the LONG position @ 1.0450 as the 4 HR chart breaks above the resistance trend line,
and the ascending triangle, now coming back for a retest, making a higher low, bullish momentum
confirmed.

Targeting the daily neckline of the inverse Head and Shoulder @ 1.0750 area.

Thank you for viewing, if you like what you see, please LIKE it.

Trade active

⋅ Jan 4, 2017 7:56 AM

Here are my multi-time frame analysis:

Comment

⋅ Jan 6, 2017 9:10 PM

Comment

⋅ Jan 10, 2017 8:04 PM

Move my stop loss to break even @1.0450, price action continue to go up.

Trade closed: target reached

⋅ Jan 13, 2017 12:28 AM

RESULT: +1.5% PROFIT. 4 HR chart bounced down, broke down the 20
EMA, manually exit the trade @1.0525 for 1.5% profit.

Date: 01/12/2017
Time: 23:00 GMT

Comments

qureshi009

⋅ Jan 7, 2017 11:04 AM

Good one, we have the same idea. lets see how the market moves

jojofang0901

⋅ Jan 7, 2017 10:30 PM

@qureshi009, Hey good setup on the higher time frame, thank you for your feedback.

TheWaveTrader

⋅ Jan 4, 2017 4:26 PM

great setup!

jojofang0901

⋅ Jan 4, 2017 4:28 PM

@TheWaveTrader, Thank you !

IamJeanPaul

⋅ Jan 4, 2017 9:09 AM

Great analysis, there is a big profit potential in this trade.

jojofang0901

⋅ Jan 4, 2017 3:25 PM

@IamJeanPaul, For sure, thank you.