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For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due ...
AUDNZD has broken all minor rebound poins on 1D (RSI = 44.753, ADX = 28.027) but has managed to find support on the Higher Low gradient of the 1W Channel Up. Its current neutral state (RSI = 51.003, Highs/Lows = 0, MACD = 0.002, B/BP = 0.0082) indicates that an attempt to keep this support level is attempted and is an optimal place to go long. TP = 1.11740.
Price has been range bound for some time now, rejected resistance multiple times. Price currently forming a head on shoulders pattern, & a bearish engulfing candle now is forming showing potential momentum shift. Will watch for a break of the ascending trendline & neckline to confirm a downside reversal ..
AUDNZD formed a double top at 1.10
We have been forming lower highs, but the sellers are now looking to push this pair lower.
Once we have cleared the 1.0869 zone, there is very little support left for buyers.
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https://www.tradingview.com/chart/AUDNZD/k65IU58a-AUDNZD-BUY-Video-Analysis-minimum-145-PIPS-SETUP/
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Entry @ 1.0953 (BUY STOP order)
Stop loss @ 1.0933 (20 pips)
Target @ 1.0986 (33 pips)
Risk-Reward = 1.65
Disclaimer:
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to ...
AUDNZD is approaching our first support at 1.0861 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1.0986 (horizontal overlap resistance, 78.6% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support and a bounce off ...
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You can track the progress of the trade by clicking the chart below! ...
AUDNZD 0.38% is approaching its support at 1.0920 (76.4%, 50% & 38.2% Fibonacci retracement , horizontal overlap support) where we expect a strong bounce to occur, pushing price up to its resistance at 1.1043 (50% Fibonacci retracement , horizontal swing high resistance).
Stochastic (55, 5, 3) is testing its support at 6.1% where a corresponding bounce is ...
Once again approaching the trend line and 100SMA on a daily chart, a nice long trade for a bounce can be place here, 2:1 risk. For a short trade, we need more confirmation, the lows and the 200SMA is there as well. NZD has a positive boos after better than forecasted gdp numbers.
Well there's nothing to say ... just fine! ) having fulfilled well according to plan
we continue the movement. detailed inputs to the market in my telegram channel.
