The Best Candlestick Formations To Enter & Exit Trade! My SecretThis is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
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Buying Position - AUDJPYWith a hammer candle being already formed in the daily and closing on top of the trend line with the RSI stating that this pair is oversold. I am highly confident of this pair being a buy and will hold unto this position till around the 85/86 levels .
P:S Fundamentals is also saying that there is a lucrative deal occurring for Australia in increasing there Iron ore output to countries like india which will strengthen the Australian currency.
Buying Position - AUDUSDThe daily candlestic k closed on a strong support which was around since the 18th of January 2017. I have left an order for a buy and will hold to this pair till around the 0.76000 levels . The RSI is also nearing the oversold mark which is another indication that a buy is in order
P:S Fundamentals is also saying that there is a lucrative deal occurring for Australia in increasing there Iron ore output to countries like india which will strengthen the Australian currency.
Selling Position - AUDNZDA doji was formed around a strong resistance line on the 4hr time frame. I am comfortable that a drop will occur and will I hold unto this position until it reaches the 50% Fibonacci line. In which I will conclude if this position has potential to move further down.
My stop loss is above the resistance line.