NZDUSD is at the top of it's weekly/monthly range, maintained since September 2016. I'm already entered short as I don't anticipate much volatility in USD pairs with the holiday approaching.
My stop is place above both the apparent weekly doji (too early still to call it a doji as it is only Thursday at the time of posting this) as well as above the previous high within the range, created in Februar 2017.
My TP is just over 370 pips away near the bottom of the range at 0.69131.
Comments
Cenotaph
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Also looking to get into this short, waiting till it drops a bit more
Bonavest
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Well I have gotten burned a few times already this month trying to short the up trend. New Zealand's economy is doing really great right now and this is why the NZD has so much strength. I will wait till I see NZDUSD really drop below its current range before deciding to go short.
On a Weekly chart I might even wait to see a full red candle get stuck to the chart first.