Monday, November 19, 2012

AUDNZD Channel Trade AUDNZD Channel Trade
A head-and-shoulder pattern that I was watching in this pair, didn't materialized. Details [here].

But price is following a descending channel. 

Recently, it bounced very hard from lower trendline. That area also comes at 200EMA. 

I am planning to short this pair on touch of upper trendline for a possible move towards mid/lower area of channel. 

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