AUD/NZD Breakout Trade
This pair has been in consolidation since 2013. It now could be possibly approaching a break-out. As always with my long term set ups, I wait for confirmation.
Price broke above 50 period moving average, showing that the Trend is turning Bullish.
I use Bollinger Bands and Bandwidth to indicate volatility and nothing else (No basis line used on my bands). As Bollinger Bands show two standard deviations of price, we can see that when price deviates further from the mean, the volatility is expanding significantly. (Also seen with rising Bandwidth).
Up-coming support at high of consolidation, and 200 period moving average. Will enter on break and close above that level. I don't use take profits, and will hold this position until Trend reversal signals are given.
Current stop is based on ATRx1
Price broke above 50 period moving average, showing that the Trend is turning Bullish.
I use Bollinger Bands and Bandwidth to indicate volatility and nothing else (No basis line used on my bands). As Bollinger Bands show two standard deviations of price, we can see that when price deviates further from the mean, the volatility is expanding significantly. (Also seen with rising Bandwidth).
Up-coming support at high of consolidation, and 200 period moving average. Will enter on break and close above that level. I don't use take profits, and will hold this position until Trend reversal signals are given.
Current stop is based on ATRx1
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