AUDNZD trade alert!

Please evaluate this for yourself before making the final decision!

This is a very short post, guys- apologies.

I’d consider a buy order, to go long on AUDNZD, entering above the high of today’s close bar, so I would place the order on Monday morning.

My stop would be below the most recent low e.g. 1.0340, with at most, 2% of my account risked.

The trade will have to run for up to 3 or even 6 month, or with a target of 1.3500.

Why am I looking at this?:

  1. All time low.
  2. Bottom of historical range.
  3. Strong reversal bar today,
  4. Weekly rejection bar.
  5. Monthly rejection bar in formation. (this could change)
  6. Bullish divergence on Daily chart.
  7. Bullish divergence on Weekly chart.
  8. Bullish divergence on Monthly chart.

 

Hope this helps,

Adam

 

14 thoughts on “AUDNZD trade alert!

      • Well I didn’t want to get all mushy and stuff, but after seeing Andrews reply I have to post another comment.

        You (Adam) are the person that most inspired me to trade and I have never seen such passion for what you do, it’s something I think everybody can feel in you coaching sessions.

        I hope some day I’ll get to meet you in person even if I don’t make it in trading (not that I’m gonna quit…), because It´s inspiring to meet people that are passionate about what they do in whatever trade they are in.

        All the best,

        Ricardo Machado

      • Hi Ricardo- I only saw this message today- thank you very much, that means a lot to me. Yes, if I’m ever going to an event or function that you are also attending, it’s always a pleasure to put a face to a name.

  1. Thanks Adam! I dunno if anyone else has replied. There are people out here, you know!

    All the best for 2015!

    Philip

  2. Thanks Adam and all the best for 2015.

    How would one manage this trade in term of moving the stop loss and locking some profit as the price move up?

    • I would trade the daily chart, and trail my stop under the lowest of the previous 3 daily bars, and update it each day, if necessary. Once you’re up 2%, it would pay to close out 1%.

  3. Hi Adam!

    Thanks for your post on the Trader’s Diary recently.
    The diary was such a good idea.
    Just thought I’d drop you a line and find out how you are, and also to encourage you to keep it going.
    I am sure that I am not alone when I say that I learned so much from you – and that I seem to have remembered it!!
    If at all possible, I encourage you to continue to help people to learn about trading.

    An update from me…all is well. I stopped trading for about 8 months and started back up recently.
    (It wasn’t because I had a string of bad trades!)
    I still really enjoy it and was so surprised to find that I remembered most of what I learned, recalling your presentations.

    You probably are pretty busy, but I suspect that you have been thinking about how much you enjoyed imparting knowledge.
    If this is the case then it might be time to fire up the Word Press again!

    As you probably recall Sajid and I tried to get that all important support group going.
    Doing this and contributing to the blog was I think another reason why I found it easy to recall the trading rules and methods.
    Trading can be a lonely exercise and this really gave me the encouragement to be persistent and drum in that; knowledge – to – act – on.

    As part of prop trading group I still get Tom’s postings, and it was his persistent messages that encouraged me to step back in to the ring!!

    Be great to get just a thought for the day!

    I’ll leave you with a quote for the day:

    “I’ve got a good feeling about this”……….!!

    All the best for now,

    Andrew.

    • Hi Andrew,

      What a great message- many thanks!
      I do enjoy what I do at the moment- as a fund trader in the city, and I am learning so much, at a higher level.
      My current plan is to do this for the next 18-24 months, and then I will most likely return to coaching for a while, but more likely in a private capacity. I will also try to keep this blog filed with useful information and updates between now and then 🙂
      Keep it up on your side- hope the Prop trading is going well!

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