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AdamHong
Dec 8, 2016 11:06 AM

NZDUSD:Bearish AB=CD Pattern and 0.618RET Short

New Zealand Dollar/U.S. DollarFXCM

Description

The bearish AB=CD pattern will complete at 0.7238 level and the 1.618EXT of BC is at 0.7247 level.
The 0.618RET of previous drop is at 0.7238 level.
Meanwhile the previous structure works at about 0.720 levels.
So it is good to sell short at 0.720-0.725 levels when price action gives signals in the PRZ.
SL:above 0.725
TP1:0.715
TP2:0.710 and further more

Trade active

Comment

TP1 reached.
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