Fxprotrader
Short

NZDUSD Breakout Confirms Short Setup

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
There was a debate among traders in previous days on how NZDUSD             will act as it was reaching a key resistance level . Looking at the chart we see that price didn't get to the resistance level although it came close and with a sharp impulsive move to the down it broke the trendline which acted as support to the upmove towards the key resistnace level.

A bearish divergence ith AO adds to our thought that NZDUSD             is going south. Waht we should do now is wait for price to make a correction (might retrace at 0.618 fib level of the impulsive move which broke the support) and then go short.

This is my first idea in 2016.. I wish everybody a very happy new year,
John

just AMAZING!
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The power of waves mate..!
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Already on this one!

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