ElyaStein

AUD/NZD Broke Out of Channel With A Bullish Candle And Volume

Long
OANDA:AUDNZD   Australian Dollar / New Zealand Dollar
We have a interesting setup here on AUDNZD , what we have here is the daily came down to a previous support with a Double bottom , so now we know that we have to be looking only now for bullish reasons to buy unless its breaking down the support,
if you take a look you can see that the market provided us with a nice bullish candlestick formation breaking out of the previous down channel with a increase in volume as you can see, besides all that we are at a pretty weekly low as well.

So in conclusion what we have,
1) Full Body Bullish Candlestick Formation
2) Break Out Of The Channel
3) Increase In Volume
4) Double Bottom Support

Now you have to make the decision if this gives you enough confidence to buy,
don't just jump in out of FOMO, take a few minutes off to assess it for yourself and create a plan, be mindful when you enter the trade.

Happy Trading!!

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