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MEX_Exchange

NZDUSD right on major support, prepare to sell on the breakout

Short
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
MEX_Exchange Updated   
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns NZDUSD NZD USD nzdusdshort nzdusdlong nzdusdtrade nzdusddaily nzdusdsell nzdusdbreakout
42
3
trendanalysis harmonicpatterns chartpattern nzdusd nzd usd nzdusdshort nzdusdlong nzdusdtrade nzdusddaily nzdusdsell nzdusdbreakout
Sell below 0.6885. Stop loss at 0.6921. Take profit at 0.6823.
Reason for the trading strategy (technically):
Price is now testing major support at 0.6885 (Multiple Fibonacci retracement, horizontal overlap support, ascending channel support) and we expect a break of this level to trigger a strong bearish drop towards 0.6823 support (Fibonacci retracement, horizontal swing low support).
RSI (34) is starting to see multiple bearish exits as a precursor to a drop we’re expecting.
Comment:
Kicking ass on this one! Honestly, do join our telegram group for better position management on such trades.
Trade closed: target reached:
Whoohoo! Pips in our pockets for the weekend!
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