forextrader249
Short

AUDNZD - SHORT, respect the trend?!

FX:AUDNZD   Australian Dollar/New Zealand Dollar
54 0 2
Hmmm.. ok this is what I think..

pretty simple:

- pull back into 1.02845 ( red highlighted area)
- wait for an engulfing bearish candle to signal reversals over.
- Aim for my Target areas, moving stop lose accordingly

OR:

- If the pullback doesn't reach 1.02845. Wait till candle closes below 1.00382
- Aim for my target areas.
* At the moment markets playing around the 1.019228 zone. waiting for it to drop down or continue its pullback. Bearish engulfing candle will help let us know reversals over. If it drops down sooner, we'll 100% know the reversals over if it closes below 1.00382

Target areas:
  • Target 1 - 1.00382
    Target 2 - 0.98652 ( -27% fib level)
    Target 3 - 0.97049 ( measured range)
    Target 4 - 0.96396 (61% fib level )
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