So, guys, this is one of the pair I've been looking at lately, especially with the housing debate still hot on New Zealand plates, the debate caused a break of support at 0.71000 making it our new resistance and creating new support at 0.70000.
the reason for a buy amidst the negative news, we looking at a possible retracement before we go for more sell opportunities. The break landed on the weekly trendline but the retracement will probably take us only to the H4 trendline before we taking shorts again. Also important to note is the wedge the 2 trends are forming so the position after retracement will be key and mostly very profitable.
the reason for a buy amidst the negative news, we looking at a possible retracement before we go for more sell opportunities. The break landed on the weekly trendline but the retracement will probably take us only to the H4 trendline before we taking shorts again. Also important to note is the wedge the 2 trends are forming so the position after retracement will be key and mostly very profitable.
Trade closed manually:
Closed in loss