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glennmercer

AUDNZD Long: Breakout to Potential Bat Completion

Long
Australian Dollar / New Zealand Dollar (FX:AUDNZD)  
glennmercer Updated   
FX:AUDNZD   Australian Dollar / New Zealand Dollar
Bat AUDNZD glennmercer gmercerfx bammline bammtriggerline BAMM Parallel Channel Triangle pivot breakout missedpivot Pivot Points Daily Pivots unhitpivots
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batpattern audnzd glennmercer gmercerfx bammline bammtriggerline bamm parallelchannel triangle pivot breakout missedpivot pivotpoints dailypivots unhitpivots
AUDNZD has broken through the bullish channel center line and countertrend resistance. There is also a missed daily pivot above price which may add to bullish bias. Watch for resistance around the top of symmetrical triangle, BAMM line, and top of the rising channel. Entry is placed at the retest of the trendline with targets at bat point B and bat completion. SL is placed below structure lows for a R/R of 2.5 (T1) and 6.5 (T2).

Bullish Confluence:
  • Trendline breakout & retest
  • Missed daily pivot above price
  • Channel center line break
Trade active

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