kiwiwalnut
Long

AUDNZD - Wait for Retrace and Long

FX:AUDNZD   Australian Dollar/New Zealand Dollar
60 0 6
Looks set for a retrace before moving up within the wedge . Looking for signals for an upwards break.

May see a slow grind down with long weekend in US and will keep this on radar
Comment:
snapshot


May not be enough upward momentum to break upper TL yet - could be a small double top on 1 hr / 30 min for move to bottom TL
Comment: close up of possible double top:
snapshot
Comment:
snapshot


Wait for retest of bottom TL and if it holds will enter long
Trade active:
snapshot


Took decent pips down and now using half profit earned for aggressive entry into long with stop below recent structural support
Comment: Lets hope that this is a false break of the TL - hence why above was an aggressive entry. If PA holds at current level ( 1.042 ish ) then upwards move more likely
Comment:
snapshot


Bears first attempt to take 1.04 support and bulls holding - 1.04 break will clear way for one more push down.
Suspect that wedge is no longer valid but wait and see in the coming days
Trade closed manually: Need a re look after John Key's resignation -