memit

NZDSGD Short Daily/4-hour

Short
OANDA:NZDSGD   NZD/SGD
Not sure about this trade. It looks like its setup nicely for another move down as price has retraced into resistance and is now printing indecision candles at this important level. Plenty of room for a 200pip move down.

However, I am not keen on the large rejection candle on the daily and how the previous weekly candle closed.

If I take this, I'd wait for price to break and close below the 4-hour trend-line.