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RaynLim
Oct 22, 2023 4:33 PM

Capitalizing on the Bearish Trend Short

NEW ZEALAND DOLLAR / U.S. DOLLARICE

Description


  • The entirety of the NZDUSD landscape is signalling a potential shorting opportunity.


Technical Insights:

  • The volatility trendline, once a counter-trend reference, has been breached and closed below. Now, we await a retest of this trendline as an entry point for a shorting opportunity.


Extended Target:

  • For those inclined, extending the target to the completion of the Bullish Bat Pattern on the Weekly Chart at 0.5626 could be a strategic move.


Always employ your own risk management strategies and validate with your analysis. What's your perspective on NZDUSD? Share your thoughts below.
Comments
Finchcliffe
Agree continue bearish
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