AUD-NZD Breakout! Risky Short! Sell!
Hello,Traders!
AUD-NZD is trading in downtrend
But the pair has reached a horizontal key level
And the pair bounced off it two times
However, a bearish breakout just happened
Which makes a further move down probable
Thus, a short trade is appropriate
But we need to wait for the 4H candle to close below the level
To make sure the breakout is confirmed
And given how poorly breakouts perform lately
Even then the trade will be risky
To do not use more than 0.5% of the account
Should you decide to trade it
IF the price goes above the key level again
The setup is INVALID
Sell!
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