Hello Traders,
Guys as a follow up for last week set up, I think now it is a good time to initiate a long position after the close of this candle. All you have to do is look for buy signal in the 15 Min chart open a position there with a tight 50 pip stop loss. The reason for this is the formation of that strong bullish engulfing candle from the minor support visible from last week trend after a sizeable correction of last week buying frenzy.
Have a happy trading day.

4HR Chart AUDNZD-20.07.2016

Source: Dalmas Ngetich

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.