Short

A CLEAR BREAK AND RETEST CONTINUATION TRADE ON AUDNZD

Updated

After the break of range zone, price retraced back and retest the broken level which is also aligned with dynamic resistance (mean value), 50.0 Fib, and weekly resistance. Our goal is to look for continuation trade after the breakout of the counter trend line (CTL). Now we have the break and retest of the bearish CTL, we give a shot for short. Entry, Stop Loss and Target are clearly defined on chart.

Note

Price retested the resistance again that aligned with the broken CTL.
Bearish rejection candle that completed the double top pattern at the resistance zone suggest a further bearish continuation.

Trade closed: target reached

Price reached our TP for 1:3.4 risk reward ratio.
On to the next one.

Veejahbee

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