NZDUSD. Bulls are exhausted, watch smaller timeframes for shorts. I just entered 1/3 of my target lots short because it could fall from market. However, any spikes in NZDUSD are huuuuge sell opportunities. 6.6 RR.
Nice job guys. If you sold the top like I predicted, watch for break to the downside. We've already had 5 waves in this structure, I am expecting a break. If it breaks, I will be adding since I only shorted 1/3 at the top. If it bounces sell higher highs. s3.amazonaws.com/tradingview/snapshots/a/arZkw58V.png
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This is very beautiful price action today guys. Very nice double top.
We are getting a corrective breakdown instead of impulsive. Some of the other dollar pairs weren't ready to commit (I'm looking at you EURUSD.) So protect your entry and see if we get another down impulse. s3.amazonaws.com/tradingview/snapshots/g/gQGUSGy0.png
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If you sold the top as recommended, great job!! I'm now short 2/3 on NZDUSD.
very nice setup... looks like this will go down even further
Ranothil
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@Sidd, yes very nice rejection at the channel top, watch for break
Sidd
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Great Charts..Whats your target from here?
Ranothil
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@Sidd, Target could vary depending on if we get impulsive or corrective breakdown, but 618 is likely either way.
Ranothil
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@Sidd, the optimal target will depend on price action. If we get a sharp impulse, we will make a weekly lower low, but if not a .50-.618 fib zone is a good takeprofit zone.