Audnzdbuy
LONG OPPORTUNITY AUDNZDWe need to be patient and watch carefully for the outcome of this potential set up. If correct we should be able to catch a really nice impulse wave at the breakout of the triangle ( yellow trendline) I set my entry at 1.0926 because I can't sit in front of the screen today but I might just get trapped in. So if you can watch the chart, just wait for the confirmation. S/L at 1.088 (conservative) 1.085 for more room. No target as with those set up I try to ride the wave as long as possible to maximise profit.
Trade Safe!!
AUDNZD - SETUP - WEEKLY CONTINUATION - 26 JUNEWELCOME TO DACAPITAL TRADING!!
AUDNZD just started moving as expected, quick Timeframe breakdown for free and everybody.
4 HOUR
30 Pips Price action above previous week high breaking our main Resistance
DAILY
Overall very bullish after taking out 1.066 Key Area exploding to the upside
WEEKLY
Wave Completed, I see some bullish movement also in Weekly
LEVELS
LONG @ 1.07930
SL @ 1.07597
TP1 @ 1.08261
TP2 @ 1.08424
TP3 @ 1.08586
Weekly trend continuation, move SL to BE if TP1 hit and close partial Profits at every TP Level.!
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DACAPITAL TRADING
AUDNZD LongSetting up a buy limit with TP @1.083 and a buy stop order with TP near 1.10 and SL near 1.06 based on weekly chart price action, as well as price differential arbitrage opportunity on this pair despite AUD being weak this week from USD recovery.
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Daily:
Weekly:
Confidence: B (risk of getting whipsawed by the end of this month esp during NZD trade balance news release on Friday, assuming it goes as forecasted or lower, better to enter these buy orders after the news instead)
AUDNZD Long Setup - Confluence on Multiple TimeframesThis 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.
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AUDNZD Right On Major Resistance, Time To SellAUDNZD is at a good selling opportunity.
Sell below 1.0635. Stop loss at 1.0656. Take profit at 1.0562.
Reason for the trading strategy (technically):
Price is now testing major resistance at 1.0635 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices down to major support at 1.0595 (Fibonacci retracement, horizontal swing low support). We do have to be cautious of intermediate support at 1.0595 (Fibonacci retracement, horizontal overlap support) as price might bounce off there and only a break of that support would open a further drop.
Stochastic (34,5,3) is seeing strong resistance below 95% where a corresponding reaction could occur.
AUDNZD Testing Key Support, Prepare For A BounceAUDNZD is now testing a major support level which is a good buying opportunity.
Buy above 1.0551. Stop loss at 1.0474. Take profit at 1.0823.
Reason for the trading strategy (technically):
Price is now testing major support at 1.0551 (Fibonacci retracement, horizontal overlap support, Fibonacci extension, bullish harmonic formation) and a strong bounce could occur at this level to push prices up to at least 1.0823 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 2.5% where a corresponding bounce could occur.
AUDNZD Is Right On Resistance, Time To SellAUDNZD is testing major resistance and presents us with a good opportunity to sell.
Sell below 1.0711. Stop loss at 1.0734. Take profit at 1.0656.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.0711 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices down to 1.0656 support (Fibonacci extension, Fibonacci retracement, horizontal overlap support).
Stochastic (89,5,3) is seeing major resistance at 95% and a corresponding reaction could occur at this level.
AUDNZD testing strong resistance, prepare to sellAUDNZD is testing strong harmonic resistance and looks poised to drop from here.
Sell below 1.0797. Stop loss at 1.0833. Take profit at 1.0706.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.0797 (Fibonacci extension, bearish harmonic formation) and a strong reaction could occur at this level to push price down towards 1.0706 support (Fibonacci retracement, horizontal swing low support). Our stop loss is at 1.0833 which is just above a major swing high and Fibonacci retracement to give our trading setup ample breathing space.
Stochastic (34,5,3) is seeing nice resistance at 93% where a corresponding drop could occur.