First bite at a NZD short. Despite year-end flows out of USD, this one looks like it's at a half-decent turning point. Previous supply zone, candle signal, OB stoch and bollinger band spike. Not giving the stop much room as it either turns here or grinds higher.
Trade active:
So far so good for the first trade of 2020. Should see some initial support around the 6636 area, and if it can break through that, I'll reassess the position at 6600.
Comment:
Good morning Tradingview community - quick update on this #NZDUSD short - I took off a portion of the trade just before close on Friday to mitigate any weekend risk, esp with US - Iran escalation potential. Still holding the rest for the 3R target, where I will evaluate again.
Comment:
Taking off another portion here. IG sentiment showing retail are significantly net short NZDUSD. 1R left to run.
Comment:
Still holding one final portion in NZDUSD - a move back to previous resistance at 6550 would be the target. Stop now at the last swing high of 6653.