Technician
Short

AUDNZD:Could Provide a Trading Signal - Update

FX:AUDNZD   Australian Dollar/New Zealand Dollar
788 3 6
Update: Stopped out on this one.
Profit(pips)=-70

Following on my previous analysis in the link below, i am looking for a short term bearish wave as price could be forming a potential pin bar near the neckline for the broken head and shoulders . For further details check the link below.

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)

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Profit(pips)=-70
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Update: Stopped out on this one.
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Awesome. TP hit at 1.0780 from 1.0655.

Very soon this monthly bear trend will turn into a bull trend.
We got the double bottom and head and shoulders in March.
Looks like we may be getting the "higher low" now in May, or it could be June, but its coming.

I'm betting huge on the AUDNZD back to 1.12 or 1.15.
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