NZDAUD Longer term long trade

16 mai 2023

For a longer term trade this has buy and hold written all over it. Firstly look at the pattern repeat (green ellipses) as buyers take positions and build. Then look at the last two weekly candles. In addition if you go down to a 4hr chart you'll see how today it's nicely pulled back to touch the trendline it broke out of last week. As for targets I'm looking for an at least 73% pull back, I'd like to think it would go for a double top and in an ideal world, if you're ready to wait we might even see a new high later in the year.