In an ideal world, the AUDNZD would continue another wave of the uptrend and close above 1.10198.
Excuse my purple arrows lol they are for my reference of some S+R that I want to keep an eye on...
On the Weekly, we've been making lower lows since the 6th of April 2015. More recently on the Daily chart, we've been making Higher Highs and Lower Lows since the 14th of September 2016 We can see clearly on the Weekly chart that price has found + respected resistance on the EMA200 line.
The EMA200 has now dropped below the last higher high, which was recorded on the 13th of March 2017 at 1.10027. We can see the EMA200, on it's current course is set to be around 1.09170 when we approach our target and so that's our TP.
Stochs has just come out of oversold and our MACD indicator is preparing to complete a bullish crossover on the Daily chart. We enter low, close to the trend line to minimise risk.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
Trade ist aktiv
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For anyone who has not yet entered on this trade... check out the MACD + Stochs on the lower TF's as price is still dropping so there is plenty time to get in.
I am moving my stop loss to below 29th January candle based on the 1W chart and I am looking at lower TF's to gain lower entry, I will then close my initial entry once we touch profits.
Best of luck guys, let me know your entry rates :) and have a great weekend !
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To confirm, I opened second position at 1.03x for lower entry.
Trade geschlossen: Ziel wurde erreicht
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HIT TP TODAY !!!! Banked 543.5 PIPS! Beautiful trade, couldn't be happier! :)
I have just entered I feel that this pair will be a fruitful one. Nice setup BTW
AEFX786
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@Jamal92, Awesome! I've got an entry at 1.047 but I'm hoping to jump in lower at around 1.042x / 1.043x ... we've certainly got the space for it on smaller TF's.