NZD reach the top of price channel and maybe it's a good entry to go short. SL at 73.258 and 1. Target at 70.863. If reached, half your position. 2nd target at 70.000. Risk / Reward Ratio at 8.83 (2nd target) and 6,24 (1 target). This is only my idea for a trading setup, please check and decide with your own strategy! Thanks, and good luck!
LOOKING TO TEST THE PREVIOUS RESISTANCE TO TURN INTO SUPPORT
Expecting the breakout from the double top like structure to hold
Very strong support level on AUDNZD, coupled with bullish divergence with the RSI falling into oversold territory. No significant fundamentals at play so a good opportunity for solely technical trades. Buy at the support.
Hello Traders, Here we have a developing Wolfe Wave for AUDNZD. The goal of this post is to find point 4, which can be rather elusive. Highlighted in grey is a Wolfe Wave that completed. As this Wolfe Wave was forming we created an ab=cd pattern that gave us points 1 and 2 of the developing Wolfe Wave. Point 2-3 formed as the first Wolfe Wave completed at it's...
$NZDCAD created a bullish Wolfe Wave in the 4hr time frame. The structure completed at 5' so we are looking at the Off-Set rule at point 4 as a target. Happy Trading.