NZDUSD breaking support level 1H

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
The kiwi is trending downwards with clear levels of support and resistance . Just now going through significant level at 0.7415 - which I will take for a genuine break if price action reaches at least about 0.7380 level before reversing. The prior retracements have met very clear resistance levels, thus I looking to short around 0.7415 level. The exact numbers for entry, TP and SL will be established when I see how price behaves - so chart is to be updated. For now I think it suffices to say that this could very easily set up a trade with a very favorable risk to reward

UPDATE: the break never reached the mentioned level of 0.7380, and so there was no reason for an entry based on the above. Price is stalling right now, and will have to pickup momentum either direction before I see reason to enter.

Hi, I have just published an idea for the opposite direction, great how all traders think differently... Check it out if you have a chance
Will we get any upside out of NZD/USD?
SimonRasmussen SmartTradingFX
I will look into your idea in a minute! And yes, definitely good with different views
Just watched down at 15M - doesn't look bullish to me:

just broke through the level I'm mentioning, though not yet the full break I want before entering
SmartTradingFX SimonRasmussen
Personally the support line you have drawn is fine but you have to also be weary of the low posted at 23:00 of 0.7404... So in my opinion i would want to see that level broken before looking at shorts even tho the overall trend is bearish! Just my opinion that's all
SimonRasmussen SmartTradingFX
Good point about that level. I usually focus more on where a bar has closed, but that's a personal preference. Overall it seems neutral to me by now.
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