FX:AUDNZD   Australian Dollar / New Zealand Dollar
As price action puts up Lower lows and Lower highs followed by lower low and another probably lower high, I am expecting the price to reverse and reach 1.06826. Price action reached the previous structure resistance followed by hidden Rsi divergence which gives an indication that it may thrust downwards.
Entry level: 1.07381
Stop loss : 1.07937
Target : 1.06826
Order cancelled: Because it opened above my stop loss :)
lol that gap had to hurt :/
Reply
agree with you. but your stoplose is too wide. not necessary to open position with 1/1 risk and reward.
+1 Reply
morshedul.sazid PooyaSalehipour
If the strategy gives you 60% wins then its worth trading with 1:1.
+1 Reply
PooyaSalehipour morshedul.sazid
sorry it just an idea. i have ever follow you anytime.
+1 Reply
morshedul.sazid PooyaSalehipour
:)
+1 Reply
Musician morshedul.sazid
i think you are right on this time frame but the weekly is showing an inverted head and shoulders. I would be inclined to buy on the retracement to the daily trend line shown which would be the right shoulder. I think these patterns are very powerful on the higher timeframes
Reply
Great Analysis :)
+1 Reply
morshedul.sazid abrar.ahmed1408
Thank you mate!
Reply
Hourly indeed looks like a short, but when I look at the last daily candle, I have my doubts, big downside rejection there. I will need more confirmation.
snapshot
+2 Reply
morshedul.sazid Nico.Muselle
Hey, Nico! Thank you for sharing the daily time frame chart.Would love to see the price hitting the lower trend line :P! Fingers crossed :D
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