HIPPY MOMENTS FOR THE AUSSIE

Tendency: Uptrend (Bullish)
Structure: Bullish Rectangle | Breakout
Observation: i. Price is going through a correction from the impulse leg.
ii. Price action has occurred over time (3rd Sep 2019 - 3rd Jan 2020) amidst a series of bounded fluctuations explaining the indecision in the market at this juncture.
ii. Evident slight breakout (8 Nov. 2019) suggests price might break Rectangle's resistance line at the 0.68500 zone (a psychological level) anytime soon.
iii. A breakout will confirm a bullish continuation pattern inciting a breakthrough out of an indecisive trend.
iv. Price above the Moving Averages on lower time frames.
v. Suspecting that correction move is hinting at 886 retracements of impulse leg (BAT).
Trading plan: BUY with potential profit @ 430pips.
Risk/Reward: 1/4
Potential Duration: 7 to 15 days

** Please note that Stop Loss/risk-reward ratio is subject to individual risk appetite per trade and account size.

Watch this space or Telegram channel for updates on lower time frames as price action is been monitored.


FREE TELEGRAM CHANNEL:
Subscribe @ nirvanaforex and get real-time trading tips and updates






Nirvana! Forex
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by Nirvana Trades & Investments for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.