We had a successful trade of NZDUSD earlier this week. I believe this is another chance to short this pair. I'll state my reasons below.
First, on the Daily TF, a 3-pin pattern was formed, but I know it's not the most perfect 3-pin formation. It gives us a reversal signal.
Second, on the 4H TF, it formed mini LHs and LLs, which show a downward pressure.
My stop loss is just 15 pips above the first mini LH and also above the descending trend line. My TP is the previous low as shown on the chart.
I don't expect this trade to play out this week. I'm gonna hold over the weekends and we will see a result next week.
Have a good weekend.
First, on the Daily TF, a 3-pin pattern was formed, but I know it's not the most perfect 3-pin formation. It gives us a reversal signal.
Second, on the 4H TF, it formed mini LHs and LLs, which show a downward pressure.
My stop loss is just 15 pips above the first mini LH and also above the descending trend line. My TP is the previous low as shown on the chart.
I don't expect this trade to play out this week. I'm gonna hold over the weekends and we will see a result next week.
Have a good weekend.
Trade closed: stop reached:
Very unfortunate, the news is agaisnt USD