FX:AUDNZD   Australian Dollar / New Zealand Dollar
Here we have a setup for AUD/NZD Shorts which will hopefully correlate with my GBP/NZD short idea.

Similar kind of setup just awaiting to fill the lower range with around a 35 pip stop loss and a 80-100 pip TP

We are also close to seeing a MA crossover further signifying downside movement
Comment: We have had 3 touches of our ascending trendline now and hopefully the fourth touch will give us our confirmation of further downside


We have had our 4th touch and break now hoping for this pair to continue to the downside

I will be monitoring this setup closely this week hoping to move my stop loss into profit or breakeven in around 20 pips time
Hi, great analysis and similar strategy to mine. Can you explain why you are waiting for a forth touch of the ascending trend line as opposed to the descending line? Thanks in advance
@Bow91, Hello,

because I am waiting for the 4th touch and break of the trendline ascending,
It appears to be doing this now as the MA's have all crossed over on the 1 hourly
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