Nice opportunity to short the NZD/USD
I see a nice possible short of the NZD/USD with an over-extension of the leg in the big red zone, the dark one if you want to be more aggressive
SL: (0.69043)
TP 1 : 38.2 retracementof the leg, in confluence with the previous high around (0.68309)
TP 2 : 61.8 retracement around (0.68042) of more if we will see more selling pressure
- The blue lines indicate the range in which we can have more selling pressure of the highs of October the 15th.
IMPORTANT NOTE : We may get an ABCD pattern completing around (0.69082) that could be a perfect place to short that pair, which requires some patience ... and it depends also on your seize and risk tolerance .
Everything is possible.
SL: (0.69043)
TP 1 : 38.2 retracementof the leg, in confluence with the previous high around (0.68309)
TP 2 : 61.8 retracement around (0.68042) of more if we will see more selling pressure
- The blue lines indicate the range in which we can have more selling pressure of the highs of October the 15th.
IMPORTANT NOTE : We may get an ABCD pattern completing around (0.69082) that could be a perfect place to short that pair, which requires some patience ... and it depends also on your seize and risk tolerance .
Everything is possible.
Trade active
Trade closed: target reached:
The target was hit , but it's a primary one , you can trail your stop for a a second target around (0.6842) or more ( keep an eye on the ATR )
Trade closed: target reached:
Our secondary target was hit around (0.68008) ; and with trailing stops, the profits should be taken around (0.67737)