captain_smollett

NZDUSD. Possible Butterfly pattern

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Another risky setup having only One reference point made

We are approaching a huge resistance zone and a healthy correction should take place here. Divergences set at all timeframes also indicate there should not be many bulls left here...

I believe a retracement would start somewhere at 0.7450 level. Today and tomorrow close will be important: if it closes above 0.75680 at some moment, the pattern is invalidated.

I set a Sell Limit order at 0.7450 with a SL at 0.76 and target 0.66 zone
Trade active:
Shorted 0.25 lots
Trade active:
Added 0.25 lots at 0.7438
Comment:
Developing smoothly! Added 0.25 lots at 0.7324
Comment:
Crawling down. All shorts to breakeven. Will close 2/3 of a position once quote hits 0.68
Comment:
Advancing really and incredibly slowly...
Comment:
Holding a position for 4 months already =(

Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
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