I REALLY want to go long AUDNZD. However, I want to buy at a lower level if I can.
I can spot the following on the 2H chart:
1. 1st trend line was broken however price struggled to break the second trendline.
2. I can spot hidden bearish divergence. Price made a lower high while stochastic made a higher high.
3. I believe a good area to buy at is between 1.032-1.035 with a Stop Loss below 1.03
4. A buy order will be placed based on a bullish candle stick formation in the buy zone (Bullish Engulfing candle, etc) OR bullish divergence on M15 or M5 time frames.
** If price breaks the second trendline, I will re-evaluate and enter at a pullback.
I can spot the following on the 2H chart:
1. 1st trend line was broken however price struggled to break the second trendline.
2. I can spot hidden bearish divergence. Price made a lower high while stochastic made a higher high.
3. I believe a good area to buy at is between 1.032-1.035 with a Stop Loss below 1.03
4. A buy order will be placed based on a bullish candle stick formation in the buy zone (Bullish Engulfing candle, etc) OR bullish divergence on M15 or M5 time frames.
** If price breaks the second trendline, I will re-evaluate and enter at a pullback.