AUD/NZD Demand Zone Trade no Monthly
This is my chart on for a LONG on the A/N on the monthly Demand Zone. Long Term Trade.
Price has already fallen and touched the TriggerLine @ 1.0700 which I missed. But to enter at this point is still a good entry.
This Demand Zone has held for almost 20 years now. This is a good trade for Long Term to hold for a year plus.
Demand Zone confirmations:
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1. Price has bounced from this zone multiple times: 1995, 2003, 2005, and 2008
2. RSI fell below 30 and has not turned back up. This also happened in 1995 and 2003 each price rose
to 1.1750
3. On the 4HR chart price has formed a Double Bottom in the Demand Zone.
4. 4HR RSI has formed a bullish divergence.
Price has already fallen and touched the TriggerLine @ 1.0700 which I missed. But to enter at this point is still a good entry.
This Demand Zone has held for almost 20 years now. This is a good trade for Long Term to hold for a year plus.
Demand Zone confirmations:
----------------------------------------------------------------------
1. Price has bounced from this zone multiple times: 1995, 2003, 2005, and 2008
2. RSI fell below 30 and has not turned back up. This also happened in 1995 and 2003 each price rose
to 1.1750
3. On the 4HR chart price has formed a Double Bottom in the Demand Zone.
4. 4HR RSI has formed a bullish divergence.
