salsapete
Short

GBPNZD Renko Ichmoku Short

FX:GBPNZD   British Pound/New Zealand Dollar
A short position may be considered with the following criteria

1. Price retraces to 61.8 fib of the CD leg ( butterfly pattern ) , which is at the Kumo resistance.
2. Price stays beneath the Kumo cloud, favouring a short trade.
3. There are a minimum of 2 short bricks formed.
4. Ideally price is beneath the Tanken Sen

Set stop loss above the Kumo Cloud.
Target 1 is D.
Target 2 is the equal legs projection of CD.
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