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HamedAghajani
Nov 16, 2014 8:25 PM

Long Trade Setup on #AUDNZD Long

Australian Dollar/New Zealand DollarFXCM

Description

Reasons to enter this trade

i) Negative bullish divergence RSI
ii) Price at lower trend-line
iii) Confluence of the trend-line with Support at 1.105

A buy stop order at few pips above 1.1087, with a stop loss below 1.10963, targeting a profit at 1.15.
Comments
Fib.The.Gentleman
target looks good ;)
HamedAghajani
Hi Patrick. I rather to buy when the market had built upward momentum, hence suggested a buy stop. I think your decreases Reward to Risk ratio, a bit. Thanks for sharing your chart and analysis.
Fib.The.Gentleman
Hey Hamed,
true with your buystop. With my Setup it could easily go further down, snapping back up, and im out... where you are still in ;)
Better Ratio, but less confluence :(
HamedAghajani
Please see below update:
tradingview.com/v/4LANe2jh/
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