The808Trader
Short

NZD over AUD? - Ichimoku NZD/AUD Short Trade Setup

FX:AUDNZD   Australian Dollar / New Zealand Dollar
The kiwi has been fighting back across the board but especially against the aussie recently. We are at an important price structure level that if we break, should help the bearish trend continue. I think this will be a good candidate for a sell stop for entry, but as an alternative we could wait for a drawback and rejection at tenken sen to enter a sell. I've drawn some horizontal lines at price structure levels where I'll be taking partial profit at along the way to the longer term target. Per my usual style I adjust the stop loss into profit as this advances, and I leave partial position open even past my long term target, as long as the trend is still valid. If we fail to break lower or get a drawback and rejection, this setup may become invalidated.
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