Technician
Short

#NZDUSD: Shooting-star candle suggests bearish resumption #forex

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
1958 15 54
NZDUSD             has formed a shooting star candle (a rejection candle) at the main descending resistance( trend line ) and the horizontal resistance at 0.6695. These combination of technical factors suggest a short trade according to my approach. Looking for a target near the previous lows at 0.6500.

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Technician
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Yes agree. I called it slightly early in this case. Happy to see the short could now take hold.

Tom
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A little bit diffrent view based on price action as well
snapshot
+1 Reply
Good eye, thanks for your view. But if you connect the first and second high of the bearish trend you will find that its not broken yet. I think you are connecting the first and the third high.
But anyway, its another possibility that's valid.
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mantasg Technician
same chart just on lower rime frame perfect respond to the pip even mid line of p channel now already formed up channel so we will see how it develops in coming days. gl for us :) the is milion ways to make money in market.
snapshot
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mantasg mantasg
just ading to that that I draw on daily chart many things but accuracy coming from lower time frame
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Great channeling. I think we have different view and that makes market :D . Will be happy whatever is the result.

BTW (Friends): I am not short NZDUSD coz i am already short NZDCAD and Long AUDNZD. So that would be excessive exposure and redundancy.
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mantasg Technician
ofcourse trading is about be happy :) and relaxed. we will see how it develops going to bed now :) by the way thank you for posting those charts thay briliant
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reteid2222 mantasg
That s the way I draw the channel...today on returning 2 the channel I sold!
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snapshot

Easy money.
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Technician TOP IvanLabrie
Hope so :D
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Perfect
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Technican Nice setup. Thank you for sharing!
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Thanks for sharing :)
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Fantastic clear and transparent job as usually....as I mentioned I would draw the channel smaller and wait till the price returns(as it did today) 4 a sell! Thank you very much!
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same view for me, ive shorted kiwi too.
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