AUDNZD is setting up one of my favorite trades! This is just classic for me. Ive been catching pips on setups like this since I could remember.. This of course is my ideal situation. Ive readily predicted and traded it many times. this exact setup has given me some of my BIGGEST reversals.
Taken from USDTRY . If you click on the chart above ^^^ the pattern I anticipated on lower TF and how it ended up after the chart publish. circles indicate the confirmations I have for entry
of couse all is outlined in the idea and can be seen.
This is not a trade to miss out. I published right before the last day of 2016 my analysis for this pair. So far its been living up to my prediction. If this trade plays out, the momentum may be enough to break new highs and continue to rally very very strongly. Setups may be of 10+:1 and very low risk if it all plays out as this chart shows.
What makes this setup so good is: The 4hr channel indicates the downtrend is corrective, but as long as price continues making clean small bear impulses within this channel, its immediate trend will still be that of the channels direction( ). As soon as the impulses become corrective, this is a strong indication that the channels downtrend has lost momentum and has become the countertrend, Price then changes its immediate trend and when it lines up with its bigger overall trend(this case bull), this is easily followed with a breakout and rally.
This is an Analysis chart but because of thr info given, I marked educational.
Hope you get the 2cents out of this and dont forget to show support!