AUDNZD BULLS READY FOR A BIG MOVE! ITS SHOWTIME!
The chart tells it all.
I have been waiting since weeks for this move to happen.
Wait for a retracement to 1.0380/70 and place your stop at 1.0330 and let the market do its work.
If you are more conservative, wait for the wedge break higher and enter on retest.
Trail the market higher and give it some breathing room. 1.0750 and 1.10 would be targets, even a move towards 1.12 or 1.16 is possible but you have to keep an eye on fundamental developments, rate decisions,chinese economy development etc. for now 1.0750 seems legit as a first step.
Best of luck.
I have been waiting since weeks for this move to happen.
Wait for a retracement to 1.0380/70 and place your stop at 1.0330 and let the market do its work.
If you are more conservative, wait for the wedge break higher and enter on retest.
Trail the market higher and give it some breathing room. 1.0750 and 1.10 would be targets, even a move towards 1.12 or 1.16 is possible but you have to keep an eye on fundamental developments, rate decisions,chinese economy development etc. for now 1.0750 seems legit as a first step.
Best of luck.
Trade active:
Because of the dynamic break above the wedge, i am changing my approach towards trading this picture.
I am now splitting my initial position in 3 parts.
1. Entry @ 1.0440 // 2. @ 1.0420 // 3. @ 1.0400
Averaging an entry spot @ 1.0420 placing my stop @ 1.0360
Risking 60 pips for a move towards 1.0750 and 1.1000
So the Risk:Reward on this position is at a minimum of 1:5<
I am now splitting my initial position in 3 parts.
1. Entry @ 1.0440 // 2. @ 1.0420 // 3. @ 1.0400
Averaging an entry spot @ 1.0420 placing my stop @ 1.0360
Risking 60 pips for a move towards 1.0750 and 1.1000
So the Risk:Reward on this position is at a minimum of 1:5<
