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.

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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…