AUD/NZD has bounced from a key resistance level (yellow line on the chart) and has also broken the key trendline it respected for quite some time. Every time a key structure is broken we wait for a trade setup. A good setup is when we see corrective structure, this is due to the fact that nothing can fall without correcting it sell. It has to pull back some time. I am looking to sell at this current structure. However if it breaks the structure and also breaks the key resistance we would be looking to buy. I will update this idea when I am in the trade. Trade safe traders.
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Trade idea voided due to AUD news release! Employment change was a lot higher than the previous and also the consensus.
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The trade is going really well, although I got taken out of it...