AUD/NZD Short - Tasty looking but risky

Hope everyone enjoyed their weekend!

Ok ok, so we have an interesting setup today on the AUD/NZD.

Very interesting indeed. Let's take a look at the positives:

- AC is above the middle line.

- The upper wick is relatively long indicating bearishness.

Looking at the negatives:

- Stochastics are somewhat choppy.

- Huge gap appeared from Sunday night.

Now, under usual circumstances, I would have taken this trade. However, with a 100 pip gap, that's just put me off. Yeah you always expect a slight gap from market re-opening on Sunday evening, but this is stretching it a bit really.

Check out the chart setup over at our forum...