I can see 2 scenarios appearing here. we have got long and short both starting out, i think a short is more likely to happen with the resistance line not being broken for a while - so i would like to see a test of that line, before we look at any positions.
a really really nice trade already formed right here. we have hit Fib 382, held and looking like a nice drop to come. Shall be opening a position here when the markets open. candles are also in perfect formation on the 15M TF.
I can see a nice pattern forming on this pair. a little resistance is now showing, with the possibility of a small exhaustion on this current down trend, then a push to the downside which will see me take a short position.
This is already a perfect Setup, taking a very bullish movement. we can see the support level has been tested twice, it hasn't broken through, i will wait for a small exhaustion before i take position on this pair, but looking like a very good setup.
Looking at NZDAUD i can see the trendline is acting as resistance right now - a possible short forming if trendline gets tested and a rejection to the downside. Will keep an eye on this pair over the next few days.
After a really good Short which we managed to milk some good profits from... i can now see an exhaustion happening! Hoping to continue to the downside to our current support levels - before going in for a long!
After a good Short on this, i can possible see a Long coming into play soon. i shall now wait for this to drop to current support levels. if our levels are tested and we see good rejection, i shall enter this pair on a long.