Tempting as this trade may be, I need to see more evidence of a trend change before I enter the market long. The primary concern is the lack of trend line break. The weekly and monthly SMA's are clearly down, and I don't see any trend line support. In terms of what I look for in a trade, it's simply not all there.
In contrast, the short AUDNZD posted earlier in the week ticks every box. It's the kind of trade I could take in confidence, knowing that I have done everything possible to improve my probabilities; a trade that I could take without fear of recrimination.
