AUDNZD - 5 Years of accumulation
AUDNZD has been accumulating over an approximately 5 year period and only now looks ready to make the real bull move. Should be a nice long bull run for AUD.
Comment:
will be looking for an entry on AUDNZD in the weeks of 12/7/2020 or 12/14/2020 - will likely take a micro bull position as a long term hold contingent on this schematic holding up. Ideally position will be entered on a pullback from current price that tests the price action just above what is labelled 'terminal shakeout' in the chart. in addition to the micro position I will look to swing trade in and out with a bullish bias.
Trade active:
finally took long entry 3.17.2021. expect it to be a hold until target of 1.30 +
entry: 1.07793 (looks like its not ideal - took some trades with relatively small, 100 - 200 pip targets as the pair oscillated since early march, so capitalized on the up and down). The entry was predicated on, obviously the large timeframe accumulation which signals a tremendously powerful bull move, but on the smaller time frames (H1 - H12) there was a stretch of accumulation and sudden volatility late in the 3.17 trading day. Entered when I checked on markets after dinner Eastern Time, noted large wicks to downside and bullish engulfing candle to breakout of the consolidation. Entry was on a slight pullback after 6pm.
- 25% of volume was removed on Thursday 3.18.2021 for ~45 pips.
- rolled stops
- 75% of volume running currently 90 pips in profit
entry: 1.07793 (looks like its not ideal - took some trades with relatively small, 100 - 200 pip targets as the pair oscillated since early march, so capitalized on the up and down). The entry was predicated on, obviously the large timeframe accumulation which signals a tremendously powerful bull move, but on the smaller time frames (H1 - H12) there was a stretch of accumulation and sudden volatility late in the 3.17 trading day. Entered when I checked on markets after dinner Eastern Time, noted large wicks to downside and bullish engulfing candle to breakout of the consolidation. Entry was on a slight pullback after 6pm.
- 25% of volume was removed on Thursday 3.18.2021 for ~45 pips.
- rolled stops
- 75% of volume running currently 90 pips in profit