AUDNZD-ideal setup for a long

FX:AUDNZD   澳元/纽元
600 2
This pair is still making a complex corrective structure not very clear.
So i will use another non-traditional tools like the "personality" of this pair and EW guidelines.
Looking at monthly chart we can see price had a similar behaviour when reached all-time highs.
It retraced to the 0.61 fib retracement and formed a perfect head and shoulders pattern.

We could have the same behaviour here. Some other reasons are:

- Previous wave 4 acting as support
- 0.61 fib retracement
- Strong structure
- round level 1.05000 as support
- potential inverse head and shoulders pattern

I will place buy limit orders near 1.055. IF price gets there it will be a high probability trade.
SL below the round level 1.0500

I prefer to anticipate the market to have a better R/R ratio. Its just my trading style. Other traders would prefer to wait for a confirmation and thats very valid.

Best regards
Interesting idea. Today and tomorrow data will be published for both currencies (AU employment today/ Nz CPI tomorrow). Next big up could be for Oz ;) Lets see and good luck.
FullTimeTrader AndrewHook
it could take more time because both pairs a getting stronger a the same time. We have RBNZ rate statement on Wed-oct-28. This could be a great catalyst if they cut rates. Regards.
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的客服工单 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出