forextrader249
Short

NZDUSD - Get low to the floor!!

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
140 0 1
First off this is a clear as rain down trend.

First I measured the size of previous ranges. cloned the size to get my potential target area for the future.

Next I market the resistance at 0.76203. Had this area s my zone to look for signs of a continuation to the down side.

At this are we can see a doji was formed plus a bearish candle after it. To me that's a good sign that the bears have come to play.

my target ares:
1. possible triple bottom 0.72310
2. using the fib to mark my 23% are. In the future market might take a swift break here. 0.70251
3. I got this last are because its the same size as previous ranges. So this could possibly be the bottom of the future range. 0.68817
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