AUD long NZD short AUD/NZD
Looking at my charts was showing AUD/USD was a long and NZD/USD a short, usually the pair move together.
So looking at AUD/NZD structure, confirmed the opportunity. Price has gone below 14 year long support/resistance line, and I expect it will go back up to test that line, which happens to be near a recent structure fib retractment line.
While below Ichimoku cloud, price has been struggling to break lower.
When price has broken through and closed above the cloud is good for Long.
Also not shown on chart, is price has crossed from below to above the 100MA
Also the HullMA cross i use is showing a buy on multiple timeframe.
Also the MacD & TrueStrengthIndex is showing to buy.
I didnt want to clutter the chart.
Risk/Reward ratio: 4.20
So looking at AUD/NZD structure, confirmed the opportunity. Price has gone below 14 year long support/resistance line, and I expect it will go back up to test that line, which happens to be near a recent structure fib retractment line.
While below Ichimoku cloud, price has been struggling to break lower.
When price has broken through and closed above the cloud is good for Long.
Also not shown on chart, is price has crossed from below to above the 100MA
Also the HullMA cross i use is showing a buy on multiple timeframe.
Also the MacD & TrueStrengthIndex is showing to buy.
I didnt want to clutter the chart.
Risk/Reward ratio: 4.20
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