NZDUSD Simple High Probability Sell Setup
Although we expect a correction after a sell off ( MACD divergence shows that too), we have another sell opportunity - short term trade. Price is moving into a correction forming a flag pattern and we have two ways to trade it. Either sell the 0.618 fib level or for a safer trade wait for a correction below the lower trendline of the pattern and then go short
Comment:
Price broke below the corrective structure (flag). Watch for a sell setup to complete before selling
Comment:
Or for a safer but with not such a great risk/reward ratio trade you may go short with stoploss and profit targets as shown below:
