Fxprotrader
Short

NZDUSD: Potential Sell at Resistance Upper Parallel of Channel

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
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Price is testing the upper parallel of a rising channel where any sell setup completion would be a great selling opportunity. In case you identify one based on your strategy try to aim for the lower parallel of the channel, but don't take your profits. Just move your stoploss at BE and see if price has the potential to break below the median line of the pitchfork . In that case aim for the sliding parallel above the upper parallel.
Comment: Same view but i would like to update this post only to let you know that it even if the sliding parallel of the rising channel didn't act as resistance as expected, we should watch for a sell setup at the upper parallel of the median line set. The slope is working very well so we still watching for sell at current level
The potential of this trade is great, but I see a divergence. Please check it out.
Reply
@Dinkan, Thank you.. The divergence shows thatwe may soon have a reversal, right? That's what I am planning to catch.. Thank you for sharing..!
+1 Reply
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