AUDNZD - Price at PRZ, awaiting break of trendline
Hey guys, analyzing AUDNZD for some friends.
AUDNZD is interesting.
It has completed 2 patterns
1. AB=CD pattern
2. Gartley Pattern
Both points to this currency pair rebounding.
However, I will be hesitant to go long until price the breaks the trendline in red.
Downward momentum is still very strong, will not feel safe going long without price showing it wants to break the downtrend first.
This is my plan.
1. Wait for price to break trendline first
2. Buy on retest of yellow zone
Will aim for 1.07 as my target with stops around 1.0250
AUDNZD is interesting.
It has completed 2 patterns
1. AB=CD pattern
2. Gartley Pattern
Both points to this currency pair rebounding.
However, I will be hesitant to go long until price the breaks the trendline in red.
Downward momentum is still very strong, will not feel safe going long without price showing it wants to break the downtrend first.
This is my plan.
1. Wait for price to break trendline first
2. Buy on retest of yellow zone
Will aim for 1.07 as my target with stops around 1.0250
Nota
No break of daily tl, no trade yet.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.