NZDUSD - Bearish Crab - Short Short

New Zealand Dollar/U.S. DollarFXCM

Description

⋅ Nov 24, 2020 8:14 AM

FX:NZDUSD
A bearish Crab Harmonic pattern has formed on the kiwi-dollar.

We have a 0.618 point B (within 3% margin)
We have a Potential Reversal Zone (PRZ) of 1.618 XA & 3.14 BC at point D.

PRZ connects with resistance line (dotted).

Trade Entry:
On a 4H chart we see a MACD divergence.
Look for reversal candle to form to enter the trade.

Stop loss at 2.0 XA
Take Profit 1 at 38.2% AD
Take Profit 2 at 61.8 AD

Happy Trading!

Trade active

⋅ Nov 24, 2020 4:19 PM

Large Bearish Candle + confirmation

Good Luck!