I want to enter short on this pair. However, I'm not sure this pair is ready yet for the next leg down (USDOLLAR still need to digest the last bullish price action).
That being said, I'll enter now at market with a stop above last resistance zone. If stop is reach, I'll wait for the next resistance zone around 0.703 then go short again.
N.B. Given the last bullish price action for the AUDNZD pair, I'll prefer to short this one against the USD.
Entry #1: now at market
Stop: 0.6985
Target: 0.66
R/R: 8/1
Entry #2 (if entry #1 stop is reached): 0.7026
Stop: 0.7060 (above the 0.5 fib retracement level)
Target: 0.66
R/R: 13/1
That being said, I'll enter now at market with a stop above last resistance zone. If stop is reach, I'll wait for the next resistance zone around 0.703 then go short again.
N.B. Given the last bullish price action for the AUDNZD pair, I'll prefer to short this one against the USD.
Entry #1: now at market
Stop: 0.6985
Target: 0.66
R/R: 8/1
Entry #2 (if entry #1 stop is reached): 0.7026
Stop: 0.7060 (above the 0.5 fib retracement level)
Target: 0.66
R/R: 13/1
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