Bearish Kiwi? - NZD/USD Ichimoku Short Trade
The kiwi has started to flatten out a bit here but I am still looking for the overall bearish trend to end up resuming after the pause we've seen.
I've drawn a sell entry a little below our current price with a stop loss right above the rejection wicks we saw which also lines up a flat kumo area where we ended up twisting back to bearish.
I've drawn out a few partial take profit levels to aim for on my way to my target.
I do want to mention that if this trend resumes we could end up falling much further but I think this mid-term target is a good level to aim for while we watch this pair progress.
If we fail to maintain a bearish trend or if our bearish confirmations change, this setup may become invalidated.
I've drawn a sell entry a little below our current price with a stop loss right above the rejection wicks we saw which also lines up a flat kumo area where we ended up twisting back to bearish.
I've drawn out a few partial take profit levels to aim for on my way to my target.
I do want to mention that if this trend resumes we could end up falling much further but I think this mid-term target is a good level to aim for while we watch this pair progress.
If we fail to maintain a bearish trend or if our bearish confirmations change, this setup may become invalidated.