Categories: Technical Analysis

Strong reversal ahead in AUDNZD

Pair is reaching weekly low and support zone. On the Daily chart we can see that there is Bollinger Band duplication and half more is due. The four hour chart is about to duplicate the previous down wave around the weekly high and support zone. One more confirmation comes from the bullish divergence which is already present. All that together creates a high probability buy opportunity that we should follow closely and pull the trigger at the right time. So here is my plan on how exactly to enter.

Technical Overview:
W1: Previous low ahead

D1: Bollinger Band to Band move, we can expect half more. support ahead around 1.0375

H4: Bullish divergence, potential wave duplication

Entry:
H4/H1: Look for bullish candle pattern near the support on the H4 chart or alternatively drop to the H1 chart and follow the last down trend line created. Once the trend line and the most recent resistance are broken you can jump into a buy trade.
Target 1: 1.0460
Target 2: 1.0515
Target 3: 1.0580
Stop Loss: below 1.0350

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.