Kiwi Retracement Sells - Ichimoku NZD/USD Short
We've been absolutely hammering this pair lately, let's see if we can keep that streak going.
This setup is similar to the Aussie play we're looking at as well.
I am looking for a small bounce up and a rejection at tenkan sen to keep the bearish trend running.
If we get that retracement and rejection I'll enter the sell with the main TP being down at the kumo twist you can see on the far left of the image.
I've also drawn out a few partial take profit levels with the green horizontal lines. I like to reduce my risk as it runs by taking some money off the table and letting the rest of the position run.
If we fail to get a decent retracement or if our bearish confirmations change, this setup will become invalidated.
This setup is similar to the Aussie play we're looking at as well.
I am looking for a small bounce up and a rejection at tenkan sen to keep the bearish trend running.
If we get that retracement and rejection I'll enter the sell with the main TP being down at the kumo twist you can see on the far left of the image.
I've also drawn out a few partial take profit levels with the green horizontal lines. I like to reduce my risk as it runs by taking some money off the table and letting the rest of the position run.
If we fail to get a decent retracement or if our bearish confirmations change, this setup will become invalidated.