SamKent
Short

AUD/NZD Breakout (pullback) Plan

FX:AUDNZD   Australian Dollar / New Zealand Dollar
77 views
7
77 2
The AUD/NZD is currently testing the long term ascending trend-line. Our estimate is that the pair will indeed break down, in which case we should have 2 reasonable alternatives:
(1) short the breakout of the trend-line, aiming initially towards the 1.09600 lows.
(2) wait for price to pull back towards the descending trend-line and short the pair there

We think both options are positive in expected value terms, they are really a matter of style, the more aggressive traders should opt for the (1), while the more conservative can opt for (2).
Nice call!
+1 Reply
SamKent Timing is key
Thank you sir :)
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Pine Wizards Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out