Breakout buildup AUDNZD Chart analysis for the week of 27 AprilAustralian vs New Zealand DollarICMARKETS:AUDNZDTranquilo1154Recent price action An ascending triangle within which price has been ranging. It is like a rubber band being stretched and a breakout may happen this week. Some ‘gurus’ will say that price could go in either direction but if we look at the number and size of bullish candles, we can easily anticipate where this is going. All other time frames support my bullish bias. Trade parameters These are times of fake news and a high level of market manipulation. Trading with smaller position size and giving extra space for stops is recommended. Gaps are regularly seen and anticipating the market open and initial moves is impossible. However, the following scenario would make sense: Entry – Conservative traders will wait for retest after breakout while an entry upon breakout is also a good location to enter. Stop – below the nearest major swing low. Target(s) depend on the trading style, but I have marked a few options. I would stay flexible and remain open to taking profit and re-entering if price action confirms a continued move. General comment Nothing in trading is ever 100%, so please allow price action to fully develop in your desired direction before executing a trade. This is not a trade recommendation