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TheForexFarmers

AUDNZD....Waiting for the breakout

Short
Australian Dollar / New Zealand Dollar (FX:AUDNZD)  
TheForexFarmers Updated   
FX:AUDNZD   Australian Dollar / New Zealand Dollar
Trend Analysis Harmonic Patterns Chart Patterns AUDNZD
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trendanalysis harmonicpatterns chartpattern audnzd
AUDNZD has formed a very nice rising wedge pattern that we are watching closely for a breakout. We placed our sell limit order as following:

Entry: 1.05841
SL: 1.06117
TP: 1.04689

The first support is near 1.05345, a break of this support will drive the pair to our TP.

Trade Safely!
TheForexFarmers
-John
Trade active:
We have been holding this position for some time now, and as we can see; the price broke the rising wedge. More downside movements are anticipated.

Trade Safely!
TheForexFarmers
-Alex
Trade closed: stop reached:
SL was hit, and the trade is now closed. Will look for entry this coming week.

Trade Safely!
TheForexFarmers
-Alex
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