mattfayofficial
Long

AUDNZD Long Position Bouncing off both 20 and 50 EMA

FX:AUDNZD   Australian Dollar / New Zealand Dollar
22 0 0
Hi everyone,

Just starting out with all of this so thought I would post an entry for some feedback. I took a long entry here on AUDNZD             . My reasoning was that price was bouncing off both the 20 and 50 EMA lines on the last candle, which was a low test. In the strategy that I have been learning a low test seems to indicate a long entry, usually supported with price moving down, which it happened to do the day before also.

I am potentially looking to exit at the line above, around the 1.09300 mark as price has reacted to this level in the past.

Any constructive feedback is appreciated.

TIA, Cheers!
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