MARKET PHASE
AUDNZD
is in a long term uptrend (daily) with a short term corrective structure that has been taking place (4 hour).
AREA OF VALUE
There was a buildup of liquidity (sell stops, shorts, long order stop losses) below the corrective structure swing lows. Price violently moved down to trigger the sell stops (liquidity) to pair against the buy orders needed to take price up. Price has now started it’s initial move up but due to the velocity of the upward move, it's gapped orders around 1.07524. Price is now retracing back to this level to meet the demand as we expected. Once price reaches this level, we can expect a strong push upwards in the direction of the larger trend.
TRADE
I will be entering long on
AUDNZD
with the following parameters:
Buy Limit: 1.07524
Stop Loss: 1.07344
Take Profit: 1.07884
AUDNZD
is in a long term uptrend (daily) with a short term corrective structure that has been taking place (4 hour). AREA OF VALUE
There was a buildup of liquidity (sell stops, shorts, long order stop losses) below the corrective structure swing lows. Price violently moved down to trigger the sell stops (liquidity) to pair against the buy orders needed to take price up. Price has now started it’s initial move up but due to the velocity of the upward move, it's gapped orders around 1.07524. Price is now retracing back to this level to meet the demand as we expected. Once price reaches this level, we can expect a strong push upwards in the direction of the larger trend.
TRADE
I will be entering long on
AUDNZD
with the following parameters: Buy Limit: 1.07524
Stop Loss: 1.07344
Take Profit: 1.07884
Order cancelled:
No entry