Technician
Short

NZDUSD: Time for a Trend-following Trade

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
1351 7 21
The pair has been consolidating within the past few weeks, after hitting near the major support area at 0.7700, where price has been pushing gradually higher in a potential rising wedge pattern, which has bearish implications.

As we approached 0.8800 key broken support level , the price was rejected today, and could be forming a pin bar candle at the descending resistance for the overall bearish wave. I am playing a short from here.

Trade Safe, and Best of Luck , join me at https://twitter.com/thefxchannel
Also at my Facebook             page http://www.thefxchannel.com
My best regards,
Technician

==================================================================
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game
MEGA 70% DISCOUNT ON 3 AND 6 MONTHS PACKAGES . Get it before offer expires : https://thefxchannel.com
Excellent analysis.Thanks for sharing.
Reply
Excellent analysis.
Reply
Thanks mate
Reply
Hey Technician, what do you think for this pair later on on FED and NZD rate decision?
Reply
awesome post
Reply
We are also rejecting .618 fib retracement level from previous swing high. Lots of confluence on this trade
+1 Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out