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?:
- All time low.
- Bottom of historical range.
- Strong reversal bar today,
- Weekly rejection bar.
- Monthly rejection bar in formation. (this could change)
- Bullish divergence on Daily chart.
- Bullish divergence on Weekly chart.
- Bullish divergence on Monthly chart.
Hope this helps,