SHARP AUD NZD BREAKOUT, BUT PULLBACK NEEDED


OVERALL SCENARIO


  • Consolidation at end of Major Downtrend;
  • Possible Start of Move to Outer Downtrend Line;
  • Broke Resistance of Pennant; 
  • Needs to Pullback to Start New Uptrend;


CHART 1 - END OF DOWNTREND















   
CURRENT SCENARIO

  • Pennant Broken;
  • Candle Signal Too Large;
  • Weekly Range Exceeded;


CHART 2 - PENNANT BREAKOUT

















 ACTION STEPS
  • Wait for a Pullback/Small Consolidation;
  • Wait for another Strong Bull Signal to Start New Weekly Range;
  • Enter Based on Daily Signal or 4H Chart Signal;
  • Aim for 200 Pips;







RECENT EMAIL FROM CLIENT









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Duane Shepherd 
(M.Sc. Economics, B.Sc. Management and Economics)
Currency Analyst/Trader
Contact: shepherdduane@gmail.com
Twitter: @WorldWide876
Facebook: DRFXTRADING 

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