Tibika
Short

NZDUSD 15M Short to retest structure (if price confirms)

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
28 1 1
Based on recent price action I expect the price to make a move to the downside to retest the previous low. Possibly even to progress further to previous structure to the downside.

There is also a distinct possibility that the price will continue up to make a new structure high (because of the momentum with which it attacked the 0,7080 area) , but with a R/R like this, I am inclined to take the risk of a short continuation ..

The candles at around 02:15 am UTC+2 are creating an area of indecision, but I am positioning the short order somewhere around 0,7070 and expect it to be triggered within a couple of candles, because I have to go to sleep :)
I would enter after a candlestick based confirmation otherwise (a close below the low of a significant indecision candle or just something that would look like meaningful price action in that context ... )

Related Ideas

Tibika
5 months ago
The risk did not pay off here and the price did indeed continue to the upside after that firt attack of the recent highs (upper blue rectange).
In this case the thing to do would be to wait for a retest of the newly found support and go Long ..

Overall I still expect a retest of the lower blue rectangle, but we should wait and see what price tells us.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out