TheSignalyst

AUDNZD - Look For Buy Setups!

Long
FX:AUDNZD   Australian Dollar / New Zealand Dollar
Hello everyone, if you like the idea, do not forget to support with a like and follow.

AUDNZD is overall bearish trading inside the brown channel, so we will be looking for Trend-Following Sell Setups.

As per my trading style/plan;
Here are the two strong zones where I will be looking for high probability buy setups:
I call them War Zones, (highlighted in Purple circles)

Zone 1: (around 1.065) in green

This highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper brown trendline. (acting as non-horizontal resistance)

Zone 2: (around 1. 05 ) in blue

This highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support and lower brown trendline. (acting as non-horizontal support)

As per my trading style:
As AUDNZD approaches one of the purple circles, I will be looking for reversal setups (like a double bottom /top pattern, trendline break , and so on...)

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL indicator
http://www.RichTL.com

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Comments

Great analysis,keep them coming!
+1 Reply
TheSignalyst OptimoomFX
@OptimoomFX, thanks a lot Optimooom
Reply
great stuff, good job!
+1 Reply
TheSignalyst ForexTrendline
@ForexTrendline, respect :D
Reply
Verry nise
+1 Reply
TheSignalyst Signal_Forex
@Signal_Forex, thanks matee
Reply
Nice forecast bro!
+1 Reply
TheSignalyst DBRuiters
@DBRuiters, thanks my friend
Reply
good possible price development for the bullish up move, thx Rich
+1 Reply
@jojofang0901 thanks a lot brother
Reply