I'm not going to enter this trade until i see breakout of the support line. After breakout, i will wait for the pullback and will go short after i see the price-action.
This is a 1:3 risk-reward setup which means a bit risky one. I'm going to risk 2% of my account balance for this trade. There are some strong supports. I may close and re-enter but not sure...
Short Term Sell to Support from the Daily Trendline Breakout. Long Term Uptrend.
Note to self: Made one published mistake so far, but I didn't make money with any of my trading ideas. With this trade I will have to focus on discipline.
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AUDNZD FOREX BREAKDOWN 08 MAY 2019
Strong H4 Candle Takeout and sellers stopout expecting some strong downside movement!
Bullish market turning into bearish waves now, following the next move.
Good short entrys with a good risk reward ratio.
ENTRY @ 1.06520
SL @ 1.07340
AUDNZD broke out of it downtrend and bounced back up of its key support level(red line).
But as you can see it came down again because as the resistance trend line from a while a go.
It will see it go down testing some support levels before we can see its next move
Anticipating shift in trend downwards as price action demonstrates a strong momentum swing down. Additionally, MACD + Triple Time Frame RSI provide additional support for my idea
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So as you can see we expect AUDNZD to go short. We think it will go short because the markt is now in a strong weekly supply zone. If you zoom in on the daily chart you can see we are now also in a strong institutional sell order zone that’s been filled right now.
It will be much clear on the 4h chart, you can see the 4h trendline is been broken en...
So as you can see we expect AUDNZD to go short. We think it will go short because the markt is now in a strong weekly sell order zone. If you zoom in on the daily chart you can see we are now also in a strong sell order zone that’s been filled right now.
It will be much clear on the 4h chart, you can see the 4h trendline is been broken en created a...
i have been waiting for this drop and its about time for AUDNZD to drop back to planet earth. watchout, set your sell stops and watch this pair go... down :)
See previous analysis
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Shorting here on the 1h/2h breaker
price compressed up now broke MS as we made a breaker on the 1h sold the retest stop is pretty conservative as there is some news coming out on NAD and aud do i do not want to get shaked out.
I will be looking to add to my position under the 4h breaker if it gives e the chance.