AUDNZD// Long Opportunity

2 เม.ย. 2021Signs for a nice long:
1. Strong area of resistance now turned support.

2. Price rejection of TL, and former support zone.

3. Bullish Bat harmonic pattern formed at TL. and a extended W pattern at TP area, which suggest continuation of the former (up)trend.

4. No news or fundamental events that can currently affect price.


Reasons not to enter yet:

1. Reversal candle but no confirmation yet.

2. Price still in LL LH formation.

3. Bearish momentum.


Overall, Im bullish on AUDNZD currently. The bullish signs outweigh the bearish opportunity, therefore IMO it's more probable to go long. Apply proper risk mgmt and use a stop loss. A decent SL should be under the -27% area.

Let me know your thoughts.