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Veejahbee

A CLEAR BREAK AND RETEST CONTINUATION TRADE ON AUDNZD

Short
Australian Dollar / New Zealand Dollar (FX:AUDNZD)  
Veejahbee Updated   
FX:AUDNZD   Australian Dollar / New Zealand Dollar
Trend Analysis Chart Patterns Wave Analysis AUDNZD freesignals tradesetup tradesetups Technical Analysis technicalanalyst swingtrade swing swingtrader
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trendanalysis chartpattern waveanalysis audnzd freesignals tradesetup tradesetups technicalanalysis technicalanalyst swingtrade swing swingtrader
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.
Comment:
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.
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