NZDUSD – Speculative short entry worth to try
NZDUSD has been moving up in a very corrective manner over the last several weeks. Its no secret that from the beginning, when this pair reach the top rea of daily ascending-channel structure, I’ve always been looking for a sell setup.
However, this pair never give me the confirmation to trigger a short entry, instead it keeps moving up inch by inch with little / no momentum at all.
Actually, in a time like this we need a bit confirmation by waiting for at a rejection impulsively to the downside (At leash in H1 / H4 TF) and waiting for the break 1 st bearish continuation pattern to confirm the move to the downside.
However, this time I choose to take a speculative sell entry at the top before waiting for the confirmation. Its because I see te price is in the top of multi TF corrective ascending channel / Rising wedge right now and even reaching this area with structural approach in Lower TF. I will take a short entry here right now with 30 pips sl at 0.70700 while risking only 1 % of my account on this trade.
I think this trade is worth to try, considering how big the risk reward ratio of this trade is and still so much potential to the downside even in the long run..
Lets see how will this pair plays out. Good Luck
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Here is the MOA FX technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the MOA Fx strategy will trigger.
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However, this pair never give me the confirmation to trigger a short entry, instead it keeps moving up inch by inch with little / no momentum at all.
Actually, in a time like this we need a bit confirmation by waiting for at a rejection impulsively to the downside (At leash in H1 / H4 TF) and waiting for the break 1 st bearish continuation pattern to confirm the move to the downside.
However, this time I choose to take a speculative sell entry at the top before waiting for the confirmation. Its because I see te price is in the top of multi TF corrective ascending channel / Rising wedge right now and even reaching this area with structural approach in Lower TF. I will take a short entry here right now with 30 pips sl at 0.70700 while risking only 1 % of my account on this trade.
I think this trade is worth to try, considering how big the risk reward ratio of this trade is and still so much potential to the downside even in the long run..
Lets see how will this pair plays out. Good Luck
__________________________________________________________________________________________________________________________________________________________________
Here is the MOA FX technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the MOA Fx strategy will trigger.
__________________________________________________________________________________________________________________________________________________________________
Trade closed manually:
Close manual now at + 0.5%. Looks like its going for a one more last push to the upside. We will enter again at the top..