Categories: Technical Analysis

Great short setup forming in AUDNZD

As we are getting closer to NFP we should be extra careful. Today we have ADP scheduled in a few hours as well. As explained in the daily market forecast video i think one of the best trading opportunities comes from the AUDNZD. The pair is making bollinger band duplication on the daily chart, there is also a trend line meeting the price a but higher. On the H4 chart it looks like we have a false break of the other trend line that comes from the highs. We are in extreme already on both the H4 chart and the H1 charts. There is also double wave cycle on the one chart which completes again near the trend line. So it all comes to the same idea and I think this is a great place for a sell.

Technical Analysis Overview:

D1 – trend line, bollinger band duplication

H4 – double wave completed, false break of the up trend line from the highs in progress, extreme

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H1 – extreme, double wave cycle completed

Entry:
H4 – One way to enter would be if the H4 chart confirms a false break of the trend line. This will provide great risk:reward ratio for our trade.
Target 1: 1.0520
Target 2: H4 20 MA
Stop Loss: above the daily trend line and last high created

Video Explanation:

Yours,
Vladimir

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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.