AUDNZD LONG - Potential Bullish Butterfly
My original idea (tradingview.com/v/GBzsK1vv/) to trade this pair as a Gartley didn't work out, so we're on to Plan B, which is to trade it as a butterfly.
BUY @ 1.0316
SELL @ 1.0290 (SL)
SELL @ 1.0377 (TP) (1.0415 could be a TP2 and 1.0486 could be a TP3 if things get strong and you're daring)
--------------------------------
Risk: 26 Pips
Reward: 51 Pips
We're just about oversold again per RSI(7, close), so hopefully when we hit that 1.272 extension we'll be oversolf enough to pop back up. Major structure and mental bias @ 1.0300, so I put my stop just 10 pips below with the rationale that if we pass through, we're going all the way.
Best of luck!
BUY @ 1.0316
SELL @ 1.0290 (SL)
SELL @ 1.0377 (TP) (1.0415 could be a TP2 and 1.0486 could be a TP3 if things get strong and you're daring)
--------------------------------
Risk: 26 Pips
Reward: 51 Pips
We're just about oversold again per RSI(7, close), so hopefully when we hit that 1.272 extension we'll be oversolf enough to pop back up. Major structure and mental bias @ 1.0300, so I put my stop just 10 pips below with the rationale that if we pass through, we're going all the way.
Best of luck!
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