Audnzdlong
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
AUDNZDBullish Indicators:
1) Support zone at 1.04080 Fib level 61.80%
Bearish Indicators:
1) LH LL
2) Downward trend
3) Resistance zone at 1.04471 or upward descending trendline.
Plan A: One can take a short position on the rejection from the upward descending trendline for the target of 1.04080 and 1.03522
Plan B: On the breaking of upward descending trendline with a good bullish candle one can take long position for the target of 1.05277.
AUDNZD's Set to Resume Its UptrendHello fellow risk-takers,
AUDNZD is set to resume its uptrend following a deepening retracement. The pair is basing out building a bullish momentum indicating the retracement may be over.
The pair can be expected to fetch at least 200 pips. A medium-term holding stamina may be necessary.
Trade well and take care.
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*This information is presented for entertainment purposes only and shouldn't be construed as investment advice.