AUDNZD maybe not just yet

I am expecting a big move up on the HTF. This may be the start of it, but the hourly MACD is not showing divergence which suggests another move down before a big move up. There is a strong support area around the 103 area. If this breaks down I will trade it with a tight SL. Then long it for the bigger move to the daily TL (green line) and above. If price breaks above the channel I will look for a small retracement and take a long to the TL providing I can get at least a 2:1.

Educate yourself, create your own trade plan, validate your trade ideas through other trader's ideas. Take responsibility for your own trades.

Commentaire:

Still looking down for a bit. before a big move up.

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We have twice broke a trend line down but not moved away very far. This may be a product of everybody on hold for Brexit. It still has the potential for a bit more down but the upside has much more on a higher time frame. I am going to hold off until we see a break of the green trend line with a bit of a correction and then look to go long.

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I will be taking a long trade if we get a little bit more down. It is a bit of a high risk but this could be the bottom of what appears to be a long move up.

Transaction en cours

Commentaire:

Trade reached target but I have kept the position and moved the target to 1.09

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Still in this trade with half my position. I will be looking to add to it again as the correction seems over.