QuileHills
Short

NZDUSD Channel Update

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
410 2 19
Looking back on this pair we can see plenty of historical precedent to see a bearish channel breakout here result in a massive short opportunity.

I have a pending sell stop with entry at .68097 below the channel support (lower red line) and below the 61.8% fib support (green/blue border).

My SL is at .68676 an area where I feel this position would be invalidated.

TP is down at the 78.6% fib support at .6565 resulting in a risk reward ratio of 4.23
Man, this pair is really digging the channel it's in.
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Shaping up to mirror the USDCHF perhaps. It rolled over after another leg up with a lover top.
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