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dustijohnson
Oct 18, 2016 1:33 AM

Short Opportunity  Short

New Zealand Dollar/U.S. DollarFXCM

Description

Resistance area at .618 fib of most recent impulse leg down. Also a .382 retracement of the larger leg down. RSI in overbought territory. Seems like a good structure trade. I plan on waiting until price reaches 1.618 extension and a strong overbought on RSI. ATR is 15, I will place stop 15 pips above resistance line. First target .382 fib second target at .618/most recent resistance gone support.
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