I am getting to realize the more popular the currency pair the more unpredectable it will be. when a pair doesn't respect fundemental and technical it is stupid to inviest on that pair. with all that said AUDNZD is one of afew pairs that still repsect both technical and Fundemental.
couple weeks ago I posted a chart showing how price was ready to move to upper band (side way market right now) and it did. in past week it was more gathering of pin bars than anything else. Even when on Tuesday we had a bullish move next day candle created a two day chart pin bar. So Time to short AUDNZD. We have "Producer Price Index" for NZD coming out afew min before Open so possible Gap is expected with this pair. I am hoping the gap is higher so it gives me a better entry point but will see. I am trading this "Producer Price Index" news but if numbers are good I will stay in this trade. if numbers are not good I will take afew pips out and look for short entry then.
I will have 2 TPs one MA 20 where ever that end up to be. and TP 2 lower band. SL above last week high
Comments
Glendoonie
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my revised POE 1.074 TP1 1.06053, TP2 1.05016, TP3 1.03691,
Glendoonie
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@Glendooie, Still in trade only one TP now at 1.06067. Very slow ...