glennmercer
Long

AUDNZD Long: Expanding Wedge Complete at Critical Level

FX:AUDNZD   Australian Dollar/New Zealand Dollar
Greetings traders! AUDNZD             has reached an important level. The 4H shows a nice expanding triangle that may add support near a potential point E. On the daily chart , there is strong support from a parallel channel . In addition to this, we have two precisely confluent fib levels (1.272AB=CD and 1.5AB extension). Since I'm seeing some pin rejection at the base of the channel, a tight stop may be placed below the pins. If price makes new lows, it is time to re-evaluate. If not, it may be possible to catch a larger move toward the missed monthly pivot for June which would mean major pippage and a trade with great R/R.

Bullish Confluence:

Happy trading!
Trade active
Comment: I'm moving this AZ trade to breakeven as well. Some may consider this a little early. However, since it's Friday we have a higher likelihood of continued mean reversion. Remember, we're in the business of not losing money.

Current Profit: +25 Pips
Max Drawdown: -17 Pips

snapshot
Comment: Excellent! T1 achieved
wooow amazing!!!
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
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 My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out