Mr_Gedze
Short

NZD/USD Trade Idea

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
56 0 3
Hi. (please don't crucify me- I've been learning on my own for 3months). This is what i believe to be a very good xabcd bearish harmonic pattern. Points B and C are based on the 50 and 61.8 Fib levels. There is also a perfect ABCD Formation: with AB = CD Relatively spot on. My setup proposes a sell at point D, with my Targets being Fib Retracement (of CD) Levels 0.382, 0.5, and 0.618 ( Target 1, 2 and 3 respectively). My stop loss would be at 0.73690, as i feel this is an important resistance level .

Thanks.

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