Categories: Technical Analysis

AUDNZD – bullish opportunity forming

AUDNZD becomes very interesting with its moves today. On the daily chart we can see that the divergence is probably starting to take place now. One time frame lower, and we find bullish convergence which comes right after bullish divergence. So technically buying dips is the correct decision here. This is the plan to follow:

Technical Overview:
D1 – bullish divergence, false break (only if the daily bar close as it is)

H4– bullish convergence

Entry:
H1 – find the entry on the H1 chart. Ideally I want to see double wave correction which completes near the small bank zone support around 1.0360-1.0340 and this is where our entry will be.
Target 1: 1.0455
Target 2: upper band of the bollinger band on daily chart
Stop Loss: if you want to be more conservative cover last low below 1.0280, if not you can
use the more recent support around 1.0310 and the stop loss below it.

Video Explanation:

Yours,
Vladimir

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.