tradingalone

Short NZD/USD on consolidations below 1H 200EMA

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
12 0 0
Monthly downtrend. Close below key monthly level after testing it recently.

Weekly range.

Daily range.

The 0.672 level was offering resistance for a good short at top of range last week.

Coming into this week since price has collapsed significantly, there's now an opportunity to add to the short on consolidations below the 200EMA.

This is Tier 2 because we are trading with the monthly level and trend. Also, since we are taking the late entry, it is a lot higher in probability.
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