AUDNZD | 1H | Bearish flag signaling continuation of trend
the AUDNZD pair in 1H time frame shows no divergence and therefore strengthens the continuation of a bearish pattern. Furthermore there is an evident bearish flag that is witnessed in the trend. This provides an opportunity to short AUD and enter the trade through a Short sell trade.
Strategy:
1) As per risk/reward ratio of 1:1, the calculated lot size is 0.29
2) Enter short sell by putting sell stop at 1.06748 (little bit below the pole of the flag)
3) to manage risk, put stop loss at 1.07303
4) I will take profit for the first trade at 1.06193
5) Once the first TP level is achieved, I will revise the stop loss to break even and the new SL for the remaining leg of the trade will be 1.06193. The TP 2 in this scenario will be 1.05643
DIsclaimer: Please manage your risk at all time. This is not an investment advice.
Strategy:
1) As per risk/reward ratio of 1:1, the calculated lot size is 0.29
2) Enter short sell by putting sell stop at 1.06748 (little bit below the pole of the flag)
3) to manage risk, put stop loss at 1.07303
4) I will take profit for the first trade at 1.06193
5) Once the first TP level is achieved, I will revise the stop loss to break even and the new SL for the remaining leg of the trade will be 1.06193. The TP 2 in this scenario will be 1.05643
DIsclaimer: Please manage your risk at all time. This is not an investment advice.