Background:
- 2nd bearish shooting star formed after testing the 20MA resistance
Entry:
- Sell stop set 20pips below the candle low @ 1.472
SL:
- set at 50%fib of the candle @ 1.482
PT:
- set near previous swing low in weekly chart @ 1.435
Note:
- Shorting near low might not be a good idea
- NZD rate and policy release due in next thursday
- 2nd bearish shooting star formed after testing the 20MA resistance
Entry:
- Sell stop set 20pips below the candle low @ 1.472
SL:
- set at 50%fib of the candle @ 1.482
PT:
- set near previous swing low in weekly chart @ 1.435
Note:
- Shorting near low might not be a good idea
- NZD rate and policy release due in next thursday
Trade closed: stop reached:
Updates - 10 Feb 2017:
- Trade stopped out after it move downwards and reversed after the reaching 261.8 Fib level from my signal candle.
- Probably PT should be set at 261.8 fib level for trade near support... worth investigating further to add into my tool box
- Trade stopped out after it move downwards and reversed after the reaching 261.8 Fib level from my signal candle.
- Probably PT should be set at 261.8 fib level for trade near support... worth investigating further to add into my tool box