High Probability Buy Setup In AUDNZD

Looking this pair in the daily chart we may see that price has bounced from a key zone, having completed a double bottom pattern. In the 4h chart we have a pending reversed head and shoulders pattern which can be traded with two ways.

First we may go long from the level of the left shoulder for a much better risk/reward ratio trade setup. A safer way is to wait for price to break above the neckline of the pattern and watch for any buy setups to complete.

Double Bottom