NZDUSD 0.68156 + 0.68% SHORT IDEA * PRICE ACTION & CORRECTION
HEY EVERYONE
Here's one on the NZ DOLLAR / US DOLLAR PAIR that rallied up with the bulls broke the resistance level 0.68106 now support as the pair retested this structure likely signalling continuation with the bull but i'm targeting a correction of this move to the upside as the pair is overbought on most indicators and is showing signs of slowing down in momentum will be approaching this one with pending orders and if possible tight stop.
for entries we scale down to smaller time-frames to determine entries and so forth.
many stars must align with the plan before executing the trade, kindly follow your rules.
LET'S SEE HOW IT GOES..
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
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ENTRY & SL - FOLLOW YOUR RULES
here's some of my rules if they help.
1. look at structure be it descending channels, pennants and so forth.
2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation.
3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term.
4. aggressive trades can be executed on the pull back
5. price action must definitely align with the plan.'
6. structure definitely
7. the 20 EMA must be respected as support / see a bounce at this structure
8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S .
9. CANDLE STICK PATTERNS.
so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan.
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Here's one on the NZ DOLLAR / US DOLLAR PAIR that rallied up with the bulls broke the resistance level 0.68106 now support as the pair retested this structure likely signalling continuation with the bull but i'm targeting a correction of this move to the upside as the pair is overbought on most indicators and is showing signs of slowing down in momentum will be approaching this one with pending orders and if possible tight stop.
for entries we scale down to smaller time-frames to determine entries and so forth.
many stars must align with the plan before executing the trade, kindly follow your rules.
LET'S SEE HOW IT GOES..
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
here's some of my rules if they help.
1. look at structure be it descending channels, pennants and so forth.
2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation.
3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term.
4. aggressive trades can be executed on the pull back
5. price action must definitely align with the plan.'
6. structure definitely
7. the 20 EMA must be respected as support / see a bounce at this structure
8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S .
9. CANDLE STICK PATTERNS.
so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan.
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Trade closed: stop reached