AUD/NZD 1DAY SET UP POSSIBLE BREAK OUT????Hi TRADERS this is my trade set up for the AUD/NZD for the new week ahead
Looking at the daily chart we can see it combusting moving sideways, I am looking for a breakout either way and possible retest of the break out before placing a trade
This is my analysis only please trade with caution and risk management in place
good luck for this weeks trading
please like and comment both are welcome
Audnzdlong
AUD/NZD Ready to Long!Hello Traders
AUD/NZD aiming for a long rally.
Here is why:
-Price bounced twice from big support structure and retraced(fib:0.236) last weave.
-Bullish Bat Pattern has been completed.
-RSI downward Trendline is broken.
-We can see same Bullish engulfing patterns.
-Broken downward Trendlines.
Thanks for Reading
Team Fortuna
-RC
LONG: AUDNZDfrom what i can see AUDNZD is currently on accumulation phase this trade maybe ready from october as buying pressure may emerge at the beginning of new month , we will have a clear view at end of the month which we will allow us to have clear understading if selling pressure is exhausted or not.
AUDNZD Channel Breakout Finally, the price broke above the channel on Nov 21, and after a minor consolidation, the recovery continued. This confirmed a legitimate breakout, indicating a possible trend change.
next target is 1.0525 / 1.0590
Fundamentally, traders Betting RBA Will Soon Follow RBNZ May Have to Wait
AUDNZD Daily cycles bullish ideaAfter a huge move down we had a pullback which was correct to 38%, however there was no divergence before we had the recent 3 wave down move. This 3 waves down however does show divergence on the histogram which indicates a possible correction. I would now expect to see 2 waves correction to 50%
Mon 15th November 2021 AUD/NZD Daily Forex Chart Buy SetupGood morning fellow traders and welcome to a new trading week. Just the one new setup identified on the Daily time frame Forex charts today, and that being a AUD/NZD buy trade. You can read my notes on the charts to see my thoughts on this. I would definitely be keeping that remaining partial sell trade on though if you can, just for some protection. Cheers. Jim JAGfx.com
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