AUDNZD way oversold - Is there a rally coming next week.
The great thing I love about FX is it swings up & down in the direction of the main trend. The other method I use in collecting 100 pips a night on the M5 chart is waiting till there is extremes on the H4 or Day chart and just hit the M5 chart when it swings back.
Looking at the AUDNZD chart, the AUD is really over sold so I expect traders will reverse this move soon.
Looking at the Weekly chart, it could be the last leg down before it forms consolidation, before a move back up.
I am trading this pair two ways next week.
H4 Chart - Apply a Buying EA that will Buy every Dip at 40 pips lower and 1.3 times larger.
M5 Chart - Wait for a confirm swing up and trade it on every thrust up candle.
This is one of those rare times I may trade in the Asia session ( God, I have to get out of bed early )
