AUDNZD Long Swing Trade IdeaAUDNZD - Long
-------------------------------------------------------------------------------------------------------
Posted this setup in May for a sell and TP got smashed without a doubt. Now we are looking for a buy after seeing compression into demand.
We also see down trendline broken by that strong bullish impulse move last week. Buyer now have regained control.
Looking to buy at 1.04129
SL : 30 pips
TP: 1.07257
R:R Ratio of 1:5
Til we meet again beloved!
---------------------------------------------------------------------------------------------------------
Audnzdlong
AUD/NZD Broke Out of Channel With A Bullish Candle And Volume We have a interesting setup here on AUDNZD, what we have here is the daily came down to a previous support with a Double bottom, so now we know that we have to be looking only now for bullish reasons to buy unless its breaking down the support,
if you take a look you can see that the market provided us with a nice bullish candlestick formation breaking out of the previous down channel with a increase in volume as you can see, besides all that we are at a pretty weekly low as well.
So in conclusion what we have,
1) Full Body Bullish Candlestick Formation
2) Break Out Of The Channel
3) Increase In Volume
4) Double Bottom Support
Now you have to make the decision if this gives you enough confidence to buy,
don't just jump in out of FOMO, take a few minutes off to assess it for yourself and create a plan, be mindful when you enter the trade.
Happy Trading!!
AUDNZD LONG TRADE SETUP WITH KEY ENTRY & STOP LEVELWith regards to my previous post on AUDNZD, the price seems to has completed the flag pattern and a bullish rally should resume.
There is also a weekly doji price action signal on the weekly chart which is suggesting indecision. However, since our bias is bullish it can serve as a buy signal.
The trading plan here is very conservative as we're putting our stop loss at the major low that will invalidate the bullish scenario with a 1:3 Risk Reward.
Safe Trading!
AUDNZD approaching resistance, look out for potential reversal!
AUDNZD is approaching its resistance at 1.04651 where it is could reverse down to its support at 1.04039.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
AUDNZD - FOREX - 22. JULY. 2019Welcome to DACapitalTrading, We provide any kind of Technical and Fundamental Analysis
for Forex and Crypto-Currency Markets every day!
-
1 HOUR
Bearish market open and price action.
4 HOUR
Very bearish market scenario with several breaks to the downside.
DAILY
Bearish waving market at its support now, expecting some bullish pressure now!
-
FOREX SETUP
BUY AUDNZD
ENTRY @ 1.03880
SL @ 1.03540 (35 Pips)
TP @ 1.04460 (60 Pips)
RR: 1.70
Use 1% risk per Position!
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
Elliot Wave Setup Put AUDNZD Bears under PressureAUDNZD bears have been stuck in a consolidation structure for the past three months after a sharp bullish rally that peaked at 1.07301 level on April 17, 2019. The sideways bearish move indicates that the market is in a corrective phase and sooner or later, the bulls will take over and break out the bearish barriers.
Fortunately, a very notable corrective price pattern is in play that is preparing us for the anticipated rally. The pattern is called a triple zigzag or flag pattern; it has a place in both Elliott Wave analysis and conventional technical analysis. The Elliot Wave chart below shows what the market has in store for AUDNZD.
As visible from the chart above, AUDNZD’s advance from March 25 to April 17 took the shape of five-wave Elliot wave impulse pattern. It is labeled (i)-(ii)-(iii)-(iv)-(v).
Elliott Wave Setup AUDNZD for a Notable Reversal
According to the Wave Principle, a three-wave correction in the opposite direction follows every impulse. This is true for AUDNZD, as the bearish move that follows the rally has been unfolding as an Elliot wave triple zigzag pattern, which is almost complete. It’s labeled (w)-(x)-(y)-(x)-(z).
The theory states that once the 5-3 wave cycle is complete, the price heads in the direction of the five-wave sequence. That’s once the wave (z) complete the corrective pattern in play within the blue box on the chart, a bullish rally is expected to resume in wave ((c)).
Wave ((c))’s targets lie above the end of wave ((a)) which makes an advance up to 1.07277 plausible.
Did you like this analysis? Let me know in the comment.
Thanks
Veejahbee.