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.
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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.