NZDUSD Short - I'm In

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
727 8 39
Nice hammer right at the confluence. Will you take this one?
Trade active
Trade closed: stop reached: Quickly and painfull

Related Ideas

Time to enter now
sezginelif sezginelif
Hey Plet,

Pin reversal bar on the channel line is tempting, but it's countertrend and this thing is on bullish posture, check how MA's aligned. Also the pullback since the first time it touched the area was very shallow. Too ricky play it short imho. If a confirmed reversal takes place you can join later if it comes back to the area.

If a new weekly high this week, uptrend confirmed and can see .75-.77 where is the strong supply area.

Take care,

pantheo pantheo
ups, apologize, Piet! mistyped!
Piet.Hein pantheo
Great analysis, I really liked your thoughts, thanks for sharing. Yes, it is bullish right now, it keeps going up for more than 6 months now, but for me this is a good moment to short, kind of anticipated selling, if really starts to fall, join more positions, and if there is a nice pullback, could join even more. Again, thanks for your opinion, good luck :)
pantheo Piet.Hein
Cheers, all the best my friend to you and yours! P.
.7200 is really a strong level and it hasn't been touched just yet. I have orders just shy of the level. The current candle looks more like a reaction to stops being triggered that were sitting at the previous high. This area is definitely an area to enter the market. Keeping a close eye.
Piet.Hein RKchartest
Agree with you, good luck :) indeed, 7200 looks great to enter.
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