glennmercer
Short

AUDNZD Drop Initiated - Short Wave-i-of-((a))-of-G

FX:AUDNZD   Australian Dollar/New Zealand Dollar
Hey traders, the drop has likely begun for this pair toward point G of the expanding triangle. We have a bearish impulse on the 1H and an opportunity to catch the drop with a tight stop. There could still be another bounce twoard the .786 fib, but the loss will be cut short if that is the case. If the drop continues as planned, we have two targets in play:

Targets:
  • T1 @ Weekend Gap, 1.029
  • T2 @ Point G, 1.021

Happy Trading!
Comment: Nice Drop! T1 approaching quickly
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Comment: T1 Achieved!
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Hi Glen, are you still short AN?
Reply
Hanu, my TP triggered overnight at T1. I'm looking for another entry toward T2. Still short bias
Reply
Hanu727 glennmercer
Good to know. I'm already short from 1.0327 with BE SL now
Reply
foobles Hanu727
Stop hit on the way back up?
Reply
Profite taken at T1 (see comments). I did not re-enter because price action did not suggest more bearish movement. Cheers
Reply
Hanu727 glennmercer
I got out with a little profit
Reply
Good job man!!!
+2 Reply
glennmercer PRO Machanguilla
Thank you sir, cheers
+1 Reply
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