AUDNZD - Price at PRZ, awaiting break of trendline

Hey guys, analyzing AUDNZD for some friends.

AUDNZD is interesting.

It has completed 2 patterns

1. AB=CD pattern
2. Gartley Pattern

Both points to this currency pair rebounding.

However, I will be hesitant to go long until price the breaks the trendline in red.

Downward momentum is still very strong, will not feel safe going long without price showing it wants to break the downtrend first.

This is my plan.

1. Wait for price to break trendline first
2. Buy on retest of yellow zone

Will aim for 1.07 as my target with stops around 1.0250

Commentaire:

No break of daily tl, no trade yet.