Audnzdbuy
AUDNZD- Buy strategyThe AUDNZD is a nice pair to trade.
The weekly chart shows a possible "W" pattern, and also we seems to start crossing 10-MA through 30-MA upwards, which would mean a medium-term upward trend start. The stochastic is kind-of topping a bit, and the MACD is positive.
Strategy is BUY into weakness 1.0550-1.0575 for a move towards 1.0900. The stop-loss to be placed below 1.0400 for now.
audnzdWhy are we entering?
- We are within a descending channel and a descending wedge indicating bullish reversal
- 2 areas. Recent bottom or bigger double bottom
- Expecting NZD Weakness
What are we waiting for to happen?
- Bounce off the recent structure bottom
- Break of WFB for confirmation
- If recent bottom breaks, look for double bottom
What is our confirmation?
- Bounce off one of the levels mentioned
- break of WFB trendline
Entry
SAFE Entry: Bounce of structure and then WFB
Risk Entry: Structure rejection
Once entered, where will our Stoploss be?
- Below the area where price bounces off
Where do we take profits?
- First TP: 1.053
- Second TP: 1.06
AUDNZD LONGLooking at this graph it can be supposed a long position on AUDNZD.
First of all, looking at Fibonacci retracement the line is about to reach the 0.5 level, usually a significant turning point. This turning point is also confirmed by a support line at the same level. In addition, looking at Bollinger Bands the graph is about to lay on the base line.
Entry price: 1.04503 (0.5 Fibonacci retracement level)
Stop loss: 1.0400 (corresponding both to a support line, and to a level lower than the "lower line" of Bollinger bands)
Take profit: 1.06129
No Financial advice.
AUDNZD BUY STOP 1.04429dont trade before buy stop, if you get 20 to 30 pips kindly close,its good for investment 2% risks.
if you wanna more pips fully risks for urs.
we are only try to hit baby pips if you like this analysis,please support our idea by hitting the like button and share to ur frnz. we will support start to end trading
hava a great trading!