Realisto_FX
Long

AUDNZD : Countertrend with good R/R Ratio

FX:AUDNZD   Australian Dollar/New Zealand Dollar
47 4 3
In a clear downtrend context, the pair has formed 2 equal legs and a short term bottom is possible . I favour a retracement till 1.03 which is 100 pips from current levels

Stop below 1.0150 , so R/R ratio is 2:1
http://www.realisto.net
You can subscribe to my mailing list for FX Alerts : http://eepurl.com/bp_sgP
Webinars & One-to-One Training available, pay per minute
ForceFollower
2 years ago
A clear down trend, so why long? Why not short at KijunSen?
Reply
Realisto_FX PRO ForceFollower
2 years ago
Hi ForceFollower, the answer is because of the acceptable R/R ratio, and some signs of exhausted trend which can trigger a short squeze with higher targets : 2 equal legs down, aggressive reversal at the bottom triangle / wedge , and the psicological parity level

Hope this helps

Josep
+1 Reply
ForceFollower Realisto_FX
2 years ago
Sure. It can develop that way. If it doesn't start following right away on Monday, I'd be looking to go short at the high, and I think there may be strong resistance at about 1.027.
snapshot

snapshot
Reply
UPDATE : Stopped out and turned bearish . To consider a new counter trend position price needs to close above 1.0150
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out