KVE
Long

AUD/NZD: Quasimodo holding? Or just trade the breakout...

FX:AUDNZD   Australian Dollar/New Zealand Dollar
84 2 6
I previously entered at 1.0500 and caught a nice move up (trade idea linked below, closed most when we hit 1. 0000             (500 pips up), a very small part is still open with SL at BE).

I am now thinking of re-entering a small trade, 2 entry points, 1 at market and one around 1.0500 again... Total risk will be 0.5 for entry 1 + 0.5 for entry 2 = 1%.

Quasimodo can give a very powerful thrust, target is the 61.8 fib of the last big move down, there are however more possibilities to draw the fib retracement from but I've taken the most conservative one. SL is conservative also, could be tighter in case we make a double bottom at the 1.0500 round level!

For people who like to wait for confirmation: possibly trade the breakout of the trendline , should give a less risky, higher probability trade!
Comment: Target 1 reached, SL at BE
nice setup!!! lower lows are done!!!
Reply
KVE arif_awan
Yep!
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out