09/06/2021 NZD/CHF Possible short position.

Disclaimer: Any of the content presented on my page showing my analysis of the market is just that, an analysis which means this is my personal opinion of where the price is going to go. Do not by any means take this simple analysis for a reason to enter a trade, I am not presenting these analyses as a form of signals, simply a way to get feedback and opinions from others on how my trades look. Take this trade at your own risk, but know forex is a risky market that you can make a lot of money but can lose that money or even more just as fast, enter these markets with your own risk and good luck with your trading :).

Daily Analysis:

As you can see the price has struggled to break this zone around 0.65500 forming a resistance zone , I was keeping an eye for the price to reject this zone around the opening on Sunday afternoon, the price has already stalled out on the bigger time frames. This is a clear resistance zone but I will wait for more confirmation before risking around one percent of my total capital.

One Hour Analysis:

For the hourly, I am mainly looking for a close below the lows of 0.65250, price has been consolidated between this price and the one I mentioned above. Once a close below these lows on the hourly candles, I am going to enter the trade with a short sell, this close will give me a confirmation that the price is reversing and will continue to the downside.

Once again, I will be taking this trade risking about one percent of my total capital, risk management is the most important thing while trading like this, you need to get out of the trades that are losing very quick, if the price does not go in our favor by Monday morning open then we will most likely close the trade for a small loss. While on the flip hand, if the price continues in our direction we will get into a profitable position and all we will have to do is wait for the price to drop so we can move our stop to break even and let the price continue.

This is my very first trading view post with my analysis, please let me know if I missed any key levels and what your opinion on this pair is, all the information I can get will definitely help in the long run, thanks again for taking the time to take a quick peek at this post. I hope you have a wonderful day.

Thanks again,