Morning’s reaction on AUDNZD gives hope for defending key support and maybe there will be some grows. It is worth to try “catch” some opportunity on the early phase of creating new bullish trend and open some long position.
On H4 we can see dynamic move upward and currently there is correction which retraced about 50% of this bullish move. It seems like after that strong impulse and correction we can start looking for a chance. Open free XM account and get free $30 for your trading.
The chance is at smaller time frames where we can enter with small SL. On M30 chart you can see setup created by 2 pin bars next to each other. It looks very nice and opening position there will mean SL of only a little more than 10 pips. We can also try to enter position after correction of candle signals. First TP of potential profit we should set on the level of last high because there can be some resistance created.
