AUDNZD long trade base on cheese trade.
Pre Analysis:-
Session Breaks Strength:- AUDNZD (+6 / -2)
Fundamental:- News event show AUD weaker than NZD. This may give conflict as session breaks show AUD stronger than NZD.
Trading Plan:-
Trade Classification:- C trade
- As C trade class, take profit at 1R only.
Post Analysis:-
- This trade able to give max 1.09R profit.
- Type C trade should be taken with extra careful. Look at price after hit 1R, it drops significantly.
- Need very close monitoring for this kind of trade.
- If no other choice of trade available, then this trade could be alternative.