Technician
Long

AUDNZD: A Flashing Long Opportunity.. #forex

FX:AUDNZD   Australian Dollar/New Zealand Dollar
1713 17 35
I am very bullish on this pair.

Recent price action suggests a strong bullish bias and probably a major bottom in place for now.
The price ability to take the high of the shooting star candle and 1.0530 horizontal resistance confirms a major bullish breakout. I

I will look to buy the pair on any minor pullback. First target at 1.0795 and second at 1.1292.

Good luck
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Hit 1.286. Do you think it is pulling back now and if so, do we trade back down? :)
Reply
We hit resistance, a pullback could be possible but nothing's sure. I would wait for confirmation signal. I remain bullish though.
-1 Reply
Excellent, I've traded this pair often since it bottomed.

Was expecting this reversal for a long time, trying to time it perfectly.
I posted a chart, and missed my entry!
I said to myself, never again, and decided to trade less pairs that day.

Good luck with this one Technician, I'll join you after a correction if possible.

I'm in AUDCHF and GBPCHF longs right now.
+1 Reply
Technician TOP IvanLabrie
Seems like we are on the same boat...
Reply
IvanLabrie PRO Technician
I'm short CHF based on my CHF index chart, and the price action in each of those pairs.
RBA speech coming up, 45 minutes...NZDCHF is almost the same, and both correlate to eurnzd and gbpnzd somewhat, but I'm not that sure about shorting them now.
Can't trade so many pairs and stay sane.
Reply
Technician TOP IvanLabrie
Absolutely, i avoid trading too many positions at the same time.. I dont know with this EURNZD short i have, Its just not hanging there :s... I think the trade should have been taken in a better way though, short slightly higher and first target at 1.5705.
Reply
IvanLabrie PRO Technician
Maybe fine tuning from 1h would have been best.
I shorted gbpnzd and if it weren't for my break even stop in the last half, it would have been a loss.
I think there are trades with better probability than these two (eurnzd and gbpnzd short). It's a messy chart now.
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why that shooting star means bullish? I don't understand, can you explain that to me. Many thanks.
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Technician TOP MrQHTWinWin
Shooting star is bearish per se, however, if the high of the candle is taken, that suggest possibly more upside .
-1 Reply
MrQHTWinWin Technician
I see. Thanks!
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