I currently have some short orders on AUDNZD as a result of a fairly consistent trend downward as can be seen here:
But since market open today it’s been looking more and more like this:
Fairly soon it’s going to have to go SOMEWHERE, and I know that downtrend pennants may typically resume the downtrend, but I don’t feel super sure in this case.
Thoughts?
Wait for a breakout of the range that it is in. Then go to a lower time frame and trade the retracement. Try not to predict direction but instead react to what the markets are actually doing.
check the higher time frames 
This resembles a pennant but the flagpole is a single trading session so I wouldn’t give it much faith. See Bulkowski at thepatternsite.com.
(Though I respect his TA work, I still feel he’s barking up the wrong tree (flagpole?) by promoting trading off chart patterns but that’s a conversation for a different thread).
BEST TIP.
I DID, and it was part of a larger uptrend!
At least, it was… until AUDNZD messed around and fell out of this uptrend.
