AUDNZD Divergence, possible trendline break

19 mar 2017

Here is a setup I will be looking at tomorrow morning to see what happened here. Looking to enter the trade if the trendline is broken, confirming the divergence that we see on the MACD indicator. Placing stop loss above the recent high at 1.105. Moving the trade to break even at 1.088, giving us a free trade from there. Looking to exit the position and take profits at 1.075. This is only if the trendline is broken, otherwise we will wait for further confirmation later in the week, maybe even next week. I believe this is going to fall eventually, even though it might not happen right away. As always, plan your trades and TRADE YOUR PLAN!