AUDNZD - Final swing up
AUDNZD is a very tradeable pair if you watch it long enough and trade only at major swings.
For the past 10 years, price has been in a very wide range.
For the past 1 year, a triangle appears to be in the works, but we do not call triangles until is is fully complete.
I believe it is now in Wave C of the last swing (Wave 'e' of the potential triangle).
If price manages to complete it successfully (near 1.1000), then there is a possibility of a breakout of the 10 year range. This is because triangles are typically penultimate moves.
But for now, a long with stops below 1.0620 seems like a good bet.
Good luck!
For the past 10 years, price has been in a very wide range.
For the past 1 year, a triangle appears to be in the works, but we do not call triangles until is is fully complete.
I believe it is now in Wave C of the last swing (Wave 'e' of the potential triangle).
If price manages to complete it successfully (near 1.1000), then there is a possibility of a breakout of the 10 year range. This is because triangles are typically penultimate moves.
But for now, a long with stops below 1.0620 seems like a good bet.
Good luck!
Nota
Daily chart showing the possible triangle.Nota
10 year range.Trade chiuso manualmente
Might be wrong on this. Closing trade for now.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.