AUD/NZD longs

14 de jun. de 2021

AUD/NZD, a pair that has caught my attention this morning. Zooming out and taking a look at the higher timeframes we can see that we are in an uptrend, a fairly obvious one. Previous candles on the lower timeframes did suggest bear, but price looks as if it has approached a demand zone (turquoise rectangle). This was an area that I was looking at to be respected, with good signs of rejection, to give me some confidence before placing long positions. Price did respect that area and we did see a slight bounce upwards after approaching it (which is a great sign of bull presence), so therefore, I hopped in. R:R is absolutely on point with this one, 1:3.5 RR.