[AUD/NZD] Strong NZD vs Weak AUD = Short! [BTFD-VIP]

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HOW TO TRADE THIS CHART?

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The AUD/NZD is in our sights, waiting for a decent pullback and shorting this pair due to a very weak Aussie dollar and a strong New Zealand dollar

AUD had pretty poor news releases this week already adding to its general weakness

there are three major low support levels shown by the purple lines, we can use these to take profits from

after dropping out of the descending channel we can see it in oversold areas which should bring the price up a bit in next 24-72 hrs in which we will be looking for an entry...

looking for a pullback to around 1.0500-1.0550 for an entry using small lots

Targets 1.035 & 1.0222

S/L at R1 resistance level 1.0625

if we do not get back up to those levels i suggest a buy stop at the S1 level or anywhere in between

this will be a short-mid term trade continuing with the current downtrend










disclaimer: this is for entertainment purposes only and not be considered trade advice

Trade active:

coming closer to the first entry targets

Comment:

....And we are in position :)

Trade active:

just hit the weekly pivot level, took another short position

Trade closed: target reached