Well, I guess my first question should be: are you looking for long opportunities in the AUDNZD?
If you are not monitoring it, take a look at it, it’s worth it.
Earlier this morning the AUDNZD retraced back to an important short term support level, and got rejected after a price action pattern.
Here is the chart:
AUDNZD Analysis, AUDNZD Signal, forex
I’m a firm believer that good analysis is always better than having good system. You can have both of them of course, but sometimes we forget about how important our own analysis is.
First, you need to decide what currency pairs to trade and what direction to trade them.
To get this information, you need to turn to the long term charts, such as 4 hour charts, daily or even the weekly charts.
Here is a good example:
AUDNZD Analysis, Technical Analysis