FX:AUDNZD Australian Dollar/New Zealand Dollar
Big M pattern, positive momo divergence
You're right. I'ts there, but since we are in downtrend, I need more reasons to play it countertrend. If next week is bullish, it might print a morning star, so we can establish longs when it will revisit the area between the close and the high of the doji. This way you are getting a fairly good R/R, in case you are wrong and price continues lower breaking down from the doji. If you draw the demand zone, you'll see that starts around 22 pins lower than the low of doji. It happens some times, i'ts called bullish spacing, but it's not part of my trading plan to buy the break up off of the doji in a downtrend without further confluence conditions. Cheers, P.