ARFXC
Short

Short on Aud/Nzd SELL SELL SELL !!!

FX:AUDNZD   Australian Dollar/New Zealand Dollar
10 months ago
Reaons for

-Firstly we are forming a triangle
-We have just bounced of the trend line with a bearish engulfing
-Also a bearish hammer has been put in place
-We also tested this area a on Thursday and rejected this zone there fore i believe it will do so again
Price action leaves clue in structure :)

If we go to the daily Timeframe we can see
-Lots of long wicks to the upside suggesting more selling pressure
-Price bouncing of trend line acting as Res

This setup aint the best simply because we prefer setups that include breaks of trendlines or triangle formations etc
but it will do as theres not alot going on in the market and lots of news about
altho its a good setup just not as many confluences we would like

our entry 1.07731
Happy trading :)
10 months ago
Trade closed manually: Trade closed with 15 pips profit
closed early as no momentum and news was coming out

Related Ideas

swisse1
10 months ago
interesting setup purely because higher highs and lower highs
altho i agree with your view
on everything else be careful :)
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