I think AUDNZD is a smart long bet

I think AUDNZD is ready to jump a little bit. Admittedly, there is some strong downward momentum on the daily and weekly views, but on the 1H chart, it seems like we are definitely ready to jump. Keep on eye on last week's low for support/as a potential stop loss and 1.064 as a breakout line. If it gets past 1.064, I definitely like it's chances of a nice little pop that's sustained for hours and maybe even for most/all of the week. At the moment, this is the one I have my eye on to start the week.

Comment:

Downward momentum seems to have ended, and it's probably safe now to pile in

Comment:

Well, that was way more downward momentum than I expected, but at every step of the way down, the conviction it would go up kept increasing. Still believe in it, still in it, feel great about the prospects of a profit on this one. But I'll, as always, play it by ear

Comment:

Sometimes, you make a trade and it goes against you, but the more it does that, the more attractive it looks at that price and the more it looks like you will make money if you add to your position at that price. This was that: the whole time it went against me, I just thought it was a surer and surer bet.

Trade closed: target reached