Hello traders,
First off, like and follow for more. Also leave comments and ask questions.
Now, AUDNZD has broken its previous high and seems bullish at the moment. My analysis on the monthly timeframe indicates a strong bullish move but the weekly did not retract properly and that means that it has set a liquidity trap which it needs to clear to make that strong bullish move.
If you look at my chart, you will see the liquidity pool indicated. That is where I am expecting my bearish move to target. What I suspect is, price may go lower because, after driving price that low, it needs a strong place (demand zone) to buy from but I suggest that if this trade meets your entry criteria, you close out about 90% of your trade at the first profit target.
This will protect your profits if price decides to rally from the first target zone.
N.B: Look for confirmation on the 1hour or lower timeframes.
Let me know what you think in the comments.
Cheers!!
First off, like and follow for more. Also leave comments and ask questions.
Now, AUDNZD has broken its previous high and seems bullish at the moment. My analysis on the monthly timeframe indicates a strong bullish move but the weekly did not retract properly and that means that it has set a liquidity trap which it needs to clear to make that strong bullish move.
If you look at my chart, you will see the liquidity pool indicated. That is where I am expecting my bearish move to target. What I suspect is, price may go lower because, after driving price that low, it needs a strong place (demand zone) to buy from but I suggest that if this trade meets your entry criteria, you close out about 90% of your trade at the first profit target.
This will protect your profits if price decides to rally from the first target zone.
N.B: Look for confirmation on the 1hour or lower timeframes.
Let me know what you think in the comments.
Cheers!!
