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Cenotaph
Apr 19, 2016 1:03 PM

NZDCHF Short to median Short

New Zealand Dollar/Swiss FrancFXCM

Description

The main trend on the daily chart has a bearish bias as shown by the pitchfork setup. Price at the moment is near SR and the median parallel line, There's a high probability for a short towards the median line (in red on the left). Price needs to make clear bearish moves first.

When price makes those lower lows, there's an entry possible for a 1:3.2 RR ratio trade.

Comments or idea's, let me know below.

Thanks and good trading!

Trade closed: stop reached

See below

Trade active

Based on new entry

Trade closed manually

Had this trade open for 2 weeks now, will close it manually in profit
Comments
Cenotaph
Still looking bearish, with classic double top
Cenotaph
Major SR zone will be hit, a reversal there?
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