Here is a potential long position to 0.94000, I believe it is setup to be a good trade, however I wouldn't enter a position until price breaks the 4H resistance.
If you look at this chart on the daily timeframe, you will see that this pair had a large price surge, and then began to create a 'flag formation', however once I dropped it down to the 4H I noticed that...
I've tried to keep it really simple when analysing this pair today. I've gone off of a basic key level breakdown, trendlines, trend continuation, and of course a little bit of Fibonacci, I've placed my stops at 1.29840 and my target at 1.36000, which offers 5 times whatever you are willing to risk, I'm hoping keeping it simple helps me to get back on track because...
A 1/1 risk trade to 1.121, however I wouldn't enter unless price pulls back into the yellow zone, then making this a 1-to-3 risk reward trade. Chart shows clear bearish divergence and should have no problem going lower after a slight pullback.
An approximately 50 pip fall in AUDNZD, given a clean break through entry point on the 30min chart with good, clear divergence and solid formation that also lines up with other timeframes.
Price has just broken entry line on 1H chart, coming from the downfall of a double top formation. Should get a 1/1 risk/reward with an almost 50 pip goal.
