I was trying to look for trading opportunity in AUDUSD chart. Instead, NZDJPY caught my eyes. We are heading to a 3rd test of 60 area. I thought all eyes are on this level.
Err…is that a triangle pattern? Hmm..Not sure. But I am still interested in testing the support at 59-60 area. Let’ see.
Here is the CHART!
From the desk of Tradergav.com
I received a couple of tweets asking about AUDNZD. The question is summarized : Is it UP or Down? or Bullish or Bearish? As usual, I don’t answer this type of question. If you have been trading for sometime, you know why I do not answer these questions.
Have a look at AUDNZD daily chart, it is not hard to see why I am interested in getting into short position. There are mountains ahead in the bigger time frame, such as daily. Experience told me there should be some opportunities for the pair to be stopped, retraced before it actually tries to break through. In addition, I am also holding Long position of NZDUSD. Of course, this analysis can be very wrong at times, but, who knows in definite the pair is going UP or Down? Get yourself out quickly when it is wrong.
Anyway, I shorted AUDNZD slightly below 1.29 level and looking at mid1.27ish zone as target. I have taken some profit off the table and moved stop to break even before the market closed for weekend.
Next week I will be looking to buy some AUDNZD if it manages to hold it well around 1.27-ish zone.
Here are the daily and 4-hour CHARTS. (Click on the chart to view full chart)
From the desk of Tradergav.com
I have been trading the whole week, and still holding half position of EURGBP long. I just did not find time to write anything here. There are just too many things to think and handle outside my trading life recently. A little bit stress is building up… Anyway, that’s not the point of this post.
AUDUSD and AUDJPY start to confuse me now. I can’t see the clear picture, so I will leave them alone for now. Some of you might argue USDCAD is back to buy zone again. Well, this time, I am not so sure. I am not sure if we should jump in now. It does not convince me so much. Instead, we might see a run to mid 1.02-ish. Well, who knows? Let’s see.
Here is the CHART!!!
From the desk of Tradergav.com
Happy Chinese New Year to all my readers. And this is the Year of Tiger. Wishing you a prosperous year, stay healthy and, always have fun. 恭喜发财，万事如意。
From the desk of Tradergav.com
So, my Aussie positions are closed now. I am not stopping here. I am looking at potential short trade of NZDJPY. Again, this is a simple idea, I am going to test the resistance.
What do you think?
From the desk of Tradergav.com
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