FX:AUDNZD Australian Dollar/New Zealand Dollar
The daily is showing us a major HPF setup for continued AUD weakness against the NZD. It is another great shorting opportunity with an amazing R/R ratio. Opportunity to short is at around 1.08700 level with a Target 1 giving you a R/R of 5.7/1 or bigger depending on how tight you want to put your Stop Loss. I do not expect a move higher then 1.09470s but you decide how aggressive or conservative you want to be.If our Target 2 gets hit it will give you a R/R of 10.2/1! That is pretty good if you ask me. Keep in mind his trade might take a while to play out as it is a but it will pay off if you stick with it. There is a possibility that the market won't even have the strength to get up to our "SELL" level and it might form another "mini squeeze" HPF which is basically an advanced form of a symmetrical triangle and spill down from there. I am leaving it up to you guys to decide where you want to enter.