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OGFXTRADER
Jun 3, 2020 12:18 PM

NZDUSD H4 SHORT PRICE ACTION FORECAST Short

NEW ZEALAND DOLLAR / U.S. DOLLARICE

Description

Overextended price after long rally with the NZD, and candles confirmation for trend fatigue allows placing a sell-stop order with entry right one pip below the lowes bearish candle.

In the realm of D1 a precise bearish pin bar is forming at an exciting level, with a clear MACD divergence in place as additional confirmation

A sell-stop entry gives enough room to target an R:R|1:2, targeting the previous resistance level as a great magnet for the price action to head towards.

S/L: 78 pips

Order cancelled

entry cancelled
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