Long

AUDNZD - Wait for Retrace and Long

Updated

Looks set for a retrace before moving up within the wedge. Looking for signals for an upwards break.

May see a slow grind down with long weekend in US and will keep this on radar

Note

May not be enough upward momentum to break upper TL yet - could be a small double top on 1 hr / 30 min for move to bottom TL

Note

close up of possible double top:

Note

Wait for retest of bottom TL and if it holds will enter long

Trade active

Took decent pips down and now using half profit earned for aggressive entry into long with stop below recent structural support

Note

Lets hope that this is a false break of the TL - hence why above was an aggressive entry. If PA holds at current level ( 1.042 ish ) then upwards move more likely

Note

Bears first attempt to take 1.04 support and bulls holding - 1.04 break will clear way for one more push down.
Suspect that wedge is no longer valid but wait and see in the coming days

Trade closed manually

Need a re look after John Key's resignation -

kiwiwalnut

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