ForecastCity
Long

A second Chance to Buy in AUDNZD

FX:AUDNZD   Australian Dollar / New Zealand Dollar
Midterm forecast:
While the price is above the support 1.0660, resumption of uptrend is expected.
We make sure when the resistance at 1.0850 breaks.
If the support at 1.0660 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 1.0660 is broken.

Technical analysis:
A trough is formed in daily chart at 1.0710 on 11/04/2019, so more gains maximum to Major Resistance (1.0850) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 65.

New trading suggestion:
*There is still a possibility of temporary retracement to suggested support line (1.0660). if so, traders can set orders based on Price Action and expect to reach short-term targets.
*If you missed our first HUNT, you have a second chance to buy above the suggested support line (1.0660).

Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Trade Setup:
We opened 10 BUY trade(s) @ 1.0354 based on 'Hammer' entry method at 2019.08.06.
Total Profit: 3595 pip
Closed trade(s): 1659 pip Profit
Open trade(s): 1936 pip Profit

Closed Profit:
TP1 @ 1.0430 touched at 2019.08.07 with 76 pip Profit.
TP2 @ 1.0490 touched at 2019.08.07 with 136 pip Profit.
TP3 @ 1.0585 touched at 2019.08.21 with 231 pip Profit.
TP4 @ 1.0660 touched at 2019.08.29 with 306 pip Profit.
TP5 @ 1.0760 touched at 2019.09.13 with 406 pip Profit.
TP6 @ 1.0990 touched at 2019.10.07 with 504 pip Profit.
76 + 136 + 231 + 306 + 406 + 504 = 1659 pip

Open Profit:
Profit for one trade is 1.0838(current price) - 1.0354 (open price) = pip
4 trade(s) still open, therefore total profit for open trade(s) is 484 x 4 = 1936 pip
All SLs moved to Break-even point.

Take Profits:
TP7= @ 1.0990
TP8= @ 1.1140
TP9= @ 1.1335
TP10= Free
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I truly feel like I am learning quite a lot from you! Thanks!
+3 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, That's our pleasure!
+1 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, it's our pleasure.
+1 Reply
Thank you for your idea and nice explanations.
+2 Reply
@fxniki, You got it.
+1 Reply
@fxniki, You're welcome.
+1 Reply
Excellent Analysis... Thank You
+3 Reply
@jmccomb, You got it. And thanks for your nice comment on this post.
+2 Reply
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