Hi Traders! AUDNZD is one of the instruments that I covered in the Live Trading Room in my Traders Academy Club this week. This is how the Traders Academy Club report looks like. A table with the hottest market opportunities, screenshot behind every pair and time frame (anything that is in blue inside the table is clickable and leads to a screenshot) + a summary in text format, kind of highlights. And of course Live Trading Room every single day. If you want to enjoy similar trading ideas as they come live (we run our Live Trading Room on daily basis, where we analyze the market choosing the synchronized opportunities as we see them) I invite you to join our Traders Academy Club
First let’s do a recap of the idea that I shared in my Traders Academy Club and then we will see how this setup has currently developed now.
AUDNZD H4 (4 Hours) Chart Analysis
On the H4 chart we had a potential ABCD correction that was forming at that moment and I was expecting the price to complete this ABCD correction. Price still had room higher towards the 61.8% fibonacci expansion level of the first wave we had.
AUDNZD H1 (1 Hour) Chart Analysis
On the H1 chart the price had created a bullish trend pattern in the form of three higher highs, higher lows. So my view here was bullish until the price holds above the 61.8% fibonacci retracement level of the bullish trend pattern. If the price moves lower, breaks and holds below the 61.8% fibonacci retracement level of the bullish trend pattern in one straight leg then this bullish view will be invalidated.
AUDNZD H1 Chart Current Scenario
On the H1 chart the price moved exactly as per my plan, the retrace that I was looking for happened and then the price moved higher perfectly as expected. We have collected amazing profits with this buy trade.
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Yours to your success
Certified Financial Technician