RCP
Short

NZDUSD: Structure is a Big Magnet

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
Good Monday traders.
Here is the first setup of the week. We have a pure structure based shorting setup on FX:NZDUSD             . The market is moving in the wedge currently and I am waiting the price to enter the Red Zone and fall all the way down.
The reversal zone is between the structure resist and the fibs 61.8 with the confluence of look left structure. We should wait the price to enter the red zone, retest the wedge and then go short. Our targets will be next support levels: Target 1 @0.6284 and target 2 @0.62547.
Also note that we are still in a bearish market.
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