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amanpaulbhogal
Jul 29, 2015 10:45 PM

Short Kiwi Short

New Zealand Dollar/U.S. DollarFXCM

Description

Reasons to short USD/NZD:

- high test bar close
- 20 ema rejection and close below
- resistance (~6700)
- downward trend line rejection (third bounce)
- 0.786 Fibonacci level rejection and close below
- Stochastic and RSI hidden bearish divergence

entry - below low of high test bar
stop loss - above high of high test bar
target - previous swing low or lower

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