AUDNZD PART OF A BIGGER TREND Short

Australian Dollar/New Zealand DollarFXCM

Description

⋅ May 13, 2015 2:28 PM

UPDATE.
price closed below both support lines as mentioned and below 1.0800 consistently H4.

CHART IS THERE.
ENOUGH SAID.
I WOULD BE LOOKING FOR SELL UPON BREAK OF H4 TRENDLINE

COINCIDENCE? NO.

H4

H1 TREND LINES REQUIRED TO BE BROKEN FIRST

Comments

Casey_Yeo

⋅ May 13, 2015 2:59 PM

Price is currently around the weekly down trend line too.

PriceActionTrading

⋅ May 13, 2015 4:41 PM

Nice observation. I wasnt looking that far :) but glad i did now. Looks like a trade that cannot go wrong eh? breaking so much confluence?

PriceActionTrading

⋅ May 14, 2015 10:24 AM

Possible shorting scenario.
Requires inside bar fakey h4.
H4

PriceActionTrading

⋅ May 14, 2015 8:16 AM

Appreciate a thumbs up and comments if you traders have benefited from my ideas. It helps.

PriceActionTrading

⋅ May 14, 2015 2:47 AM

IvanLabrie

⋅ May 14, 2015 2:51 AM

Not sure about long term here, but it should correct soon.
I'd feel safer going long after the correction's over, but we'll see.

PriceActionTrading

⋅ May 14, 2015 3:49 AM

Yes. Whether break or bounce. This spot deserves our full attention.