The808Trader
Short

Kiwi to Falter? - Ichimoku NZD/USD Short Trade Opportunity

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
The good NFP and economic data helped the USD surge across most major pairs on friday. I am looking for a drawback then chance to hop on to some hopefully continued strength. I would like to see a drawback and rejection at the zone I've drawn to validate a sell upon a kumo breakout. We have our ichimoku bearish confirmations, but we'll want to see those hold and continue to develop. As an alternative I may set a sell stop below the previous candles wick to enter short, should we break that level of support without getting the drawback I want to see. If either of these scenarios fail to develop, this setup may become invalidated.
Trade hit partial take profit level 2 before retracing due to fundamentals. The rest of the position was taken out in profit at my adjusted stop loss.
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Sweet Analysis, don´t forget to leave me a like as well :)
+1 Reply
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