5PMTrader
Short

AUDNZD - Price ready to break to the down side?

FX:AUDNZD   Australian Dollar/New Zealand Dollar
81 2 1
The price action of this last bar could provide a nice low risk entry in the direction of overall trend.

Also notice a clear support zone price bounced off a couple of days ago.. looks like it is ready to break down to a new low..
Can you explain more about how you anticipate this support breaking, and not just providing another bounce like on Jan 27th?
Reply
@fr33zerPop: Hi there.. that was my concerned too that's why I entered the trade with a limit order such that I will have about 2.5:1 RR when price reaches that level. At that point if I see price failing, I may close the trader or move the stop to break-even. I am just betting on the trend..
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