Technician
Short

AUDNZD: Short following the trend

FX:AUDNZD   Australian Dollar/New Zealand Dollar
2385 26 35
Update: very strong employment numbers, I closed this trade at 1.0170

Shorting on support break within the context of the overall bearish trend

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Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game
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Do we short now or wait until it moves back to 1.0143 ?
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Technician TOP MuathAlBulbul
You insist on getting direct recommendation ... I will short anywhere near 1.0140 if we get there.
+1 Reply
MuathAlBulbul Technician
Lol, sorry! I keep bugging you, but I ask because I like to be sure, that's it. Sorry again :/
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the long term picture shows a reversal is due. Any short taken should have tight exit strategy.
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Technician TOP resurrector007
Good to know.
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Casey_Yeo resurrector007
Mind to share a chart to show why you think so?
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resurrector007 PRO resurrector007
This should be a very interesting start of a trend change if it crosses. 1.02585.
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Casey_Yeo resurrector007
hey mate. still waiting for your chart to illustrate your view.
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Nothing i could find that would suggest a reversal is due too.
Only ultra slight glimpse of hope is that W1 inside bar formed last week.
Buying AUDNZD is a scary though consider it is at its all time low and has been declining for ages.
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snapshot
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very nice one !!!
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sIR WEEKLY CANDLE PATTERN IS PERCING SO WE SHOULD BUY OR SELL ?????
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Engineer MuhammadZamanfx
you do both lol "-____-"
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Nice trade, but would it be safer to wait for 2618 method? = wait for [rive retrace to 61.8 of previous move and enter there. This looks like perfect example for this kind of trade? Just asking.....
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same analysis. I do also think a small correction is close to happening, but that's just a theory.
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I took this trade way back on 07/04/15 and am of the view that we will reach parody soon. If the RBA cut rates again, then the NZD will appreciate significantly against the AUD (That is if rate are not cut in NZ).
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In fact from fundamentals point of view, NZ is talking about raising rates, while Aus is talking about at least one more cut soon. It's only a matter of time until exchange rate is below parity.
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Agree mate, unless the fundamentals change the pair remains a sell
-1 Reply
simplicity, n1 Tech
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very strong employment numbers, I closed this trade at 1.0170
-1 Reply
Very strong employment numbers indeed. Will you try selling again now?
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PriceActionTrading PriceActionTrading
This is why i am suggesting it.

snapshot
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BoonOng PriceActionTrading
PriceActiontrading - given to the current graph you posted, with rejection from 20SMA, it is possible for short. Where is the suppose entry for short - i suppose for the support broken at ur 61.8%?
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Nope. If short at the break of 61.8%, risk reward is low, really low as i have no intention of holding any trades for more than a week.
We short at 1.018 - 1.02 with SL just slightly above yesterday's D1 bar.
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BoonOng PriceActionTrading
ah considering that is based on your SMA? =)
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And rejection of 1.0200 and 61.8%.
This trade could of course be an ascending triangle trade, depending on the strength of AUD. considering how the market have done for the past 2 days it is quite unpredictable i must say. But this is a straightforward trade worth keeping a lookout.
I have posted an idea on my page.
snapshot
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