AUDNZD
Audnzd opportunity! As we can see the market is bearish, we have seen a breakout of the trendline and a retest,
the retest bounced of the fib level 50%, we only take trades based on 3 confirmations and the final confirmation would be the candle stick!
If it gives us a rejection candle stick (price action) then we will be taking this trade to the downside around 80pips with a small SL at 25pips ... risk to reward around 1:3.
Confirmation
1 - breakout and a testers
2 - fib level 50%
3 - candle stick rejection
(price action)
the retest bounced of the fib level 50%, we only take trades based on 3 confirmations and the final confirmation would be the candle stick!
If it gives us a rejection candle stick (price action) then we will be taking this trade to the downside around 80pips with a small SL at 25pips ... risk to reward around 1:3.
Confirmation
1 - breakout and a testers
2 - fib level 50%
3 - candle stick rejection
(price action)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.