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

 

A reminder for when trading seems overwhelming.

Whenever I hit a drawdown period, which happens less and less often, by the way, I always revert back to basics. This video by Andrew Hwerdine is still my favourite.  Why? Because it reminds me how simple trading can be, and also that entering on lower timeframes is really only about improving risk to reward, even though the trade setup remains the same.

I hope that this inspires you as much as it does me.

Adam

Interesting commentary on current conditions – 2 minutes watching.

I don’t normally watch this kind of stuff, but this clip is pretty decent, and relevant to my analysis two weeks ago, and my cautionary post earlier today. (Plus my analysis 2 weeks ago, if you haven’t watched it, is posted below this clip):

My analysis two weeks ago: