AUDNZD on a H4 chart is in an uptrend. Recently we saw efforts to break resistance at 1.0633. We can spot here opportunity to play long (option CALL), because several conditions are fulfilled from strategy Bollinger Bands:
- 5 following candles closed above the upper Bollinger Bands
- New local peak (in fact we have a double peak)
What can be considered as a potential signal to enter into a long position / CALL option? It will be a breakout of level 1.0634. Even if the price will rise even 1-2 pips above this level, SL should be few pips under local low which will be created before bullish impulse, at the moment – below the level of 1.0583.
However, if candle on the H4 chart will close below the upper Bollinger Bands – setup will be invalid.
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