AUDNZD Double TopAfter the very big long trade from the previous analysis, think a short scalp might be worth it here. Looks like a double top in the making now, also because it went up in a straight line, so a decent correction becomes more likely now as well. Only danger i see now is, that it becomes a triangle. If you see a slow drop staying above the triangle support, you can always get out again around break even. For a real double top, it should drop like the red line shows.
Previous analysis:
Nzduad
AUDNZD Bullish Wedge, Part 3, Target Reached!Time to take profit and not wait for the exact end of it. Always okay to leave a small part, like 20/30% with a tight trail stop (something i usually do), with a target around that yellow circle. Now its time for the second part of this long term play. I will probably not touch if for a few weeks now and want to see it follow that blue line on the left. There i will most likely start to build up a long position again. Only if i see a perfect pattern, i might short it to the low of that blue line.
Just look at how perfectly that bull flag from the previous analysis played out :).
Previous analysis: