AUDNZD Channel Trade

AUDNZD H4

AUDNZD is making out a channel on H4 charts. 

Currently price is backing off after touching the channel's upper trendline. 



I missed out this trade setup before. If there happens to be any bounces towards upper trendline, I will consider that as a short opportunity. 100EMA & 200EMA comes at mid of the channel.

AUDNZD M30

Another short opportunity is coming up on M30 charts on break of trendline. 200EMA comes just below it. A break below the trendline should accelerate the down move. 

I plan to go short on a break and daily close below the trendline. Stop will be on daily close above the trendline. I will be targeting move towards the mid of channel.