THIS ONE IS TODAY'S TRADE IN AUD/NZD.
LET ME EXPLAIN WHAT SAW AND DID.... FIRST OF ALL THERE WAS A RANGE BUILDING UP AND THIS MEANS BIG BOYS ARE UP TO SOMETHING AND THEY ARE BUILDING ORDERS. AND FINALLY THE RANGE IS BROKEN AT 1.09582 LEVEL. THEN THERE UPWARD MOVEMENT WHICH IS A GOOD SIGN NOW I WAS LOOKING FOR A PULLBACK(RED LINES WHICH ARE BEING DIGESTED 100% BY GREEN LINES)AND AFTER THE PULLBACKS ARE FULLY DIGESTED WE WILL ALWAYS FIND A LITTLE RANGE BEFORE TAKE OFF TAKES PLACE. AND ASIA'S HIGH IS BROKEN BY LONDON MARKET AT 12:30 AND WHICH MEANS THERE IS SOME ACTIVITY COMING IN.
SO THERE IS BREAK(RANGE BROKEN) + POWER( ASIA HIGH BROKEN) + FUNDAMENTALS( AUD IS STRONG AND NZD IS WEAK) = BUY BUY BUY BUY
SO I ENTER BUY AT LEVEL 1.09797 AT 12:15 AND EXIT AT LEVEL 1.09971 AT 14:15. MY STOP LOSS WAS AT 1.09687.
I EXPECTED THE MARKET TO GO HIGHER BUT IT STARTED BUILDING RANGE WHICH MEANS BIG BOYS ARE EXITING. SO AFTER RANGE STARTED BUILDING I EXIT( YOU WILL BE ABLE TO SEE A PROPER RANGE AT 3 MINUTE TIME FRAME)
LET ME EXPLAIN WHAT SAW AND DID.... FIRST OF ALL THERE WAS A RANGE BUILDING UP AND THIS MEANS BIG BOYS ARE UP TO SOMETHING AND THEY ARE BUILDING ORDERS. AND FINALLY THE RANGE IS BROKEN AT 1.09582 LEVEL. THEN THERE UPWARD MOVEMENT WHICH IS A GOOD SIGN NOW I WAS LOOKING FOR A PULLBACK(RED LINES WHICH ARE BEING DIGESTED 100% BY GREEN LINES)AND AFTER THE PULLBACKS ARE FULLY DIGESTED WE WILL ALWAYS FIND A LITTLE RANGE BEFORE TAKE OFF TAKES PLACE. AND ASIA'S HIGH IS BROKEN BY LONDON MARKET AT 12:30 AND WHICH MEANS THERE IS SOME ACTIVITY COMING IN.
SO THERE IS BREAK(RANGE BROKEN) + POWER( ASIA HIGH BROKEN) + FUNDAMENTALS( AUD IS STRONG AND NZD IS WEAK) = BUY BUY BUY BUY
SO I ENTER BUY AT LEVEL 1.09797 AT 12:15 AND EXIT AT LEVEL 1.09971 AT 14:15. MY STOP LOSS WAS AT 1.09687.
I EXPECTED THE MARKET TO GO HIGHER BUT IT STARTED BUILDING RANGE WHICH MEANS BIG BOYS ARE EXITING. SO AFTER RANGE STARTED BUILDING I EXIT( YOU WILL BE ABLE TO SEE A PROPER RANGE AT 3 MINUTE TIME FRAME)