NZD/USD, DAY CHART, SHORT (18-DEC-2016)

Note: NZD/USD follows our analysis last week.
Congratulations to those who short this trade as per our analysis.

Overall, we remain bearish on this pair because of the potential "Extended Head & Shoulder" setup appeared.

Now, we have 2 trading plans for this pair:
1. Wait some little pullback to the support line at 0.698x level and bearish signal to short with right risk amount

2. Zoom into H4 or H1 chart to look for pullback to 20-EMA and bearish signal to short with little risk.

Overall, it is a high risk to reward trade!

Trade active:

NZD/USD pullback to the strong resistance line and moving down again.
Time to short.

EP: 0.69563
SL: 0.70528
TP: 0.67019

Trade active:

NZD/USD is moving down now.
We decided to reduce our risk exposure by moving SL to the resistance level at 0.69893.

Trade Safely :)

Trade active:

NZD/USD still moving down.
We decided to move our SL to Breakeven level at 0.69563.

So, it is now a risk-free trade now.
:)

Trade closed manually:

We remain bearish on this pair.
However, we decided to close the trade as we don't want carry weekend trade.

Gained profit of 82 pips.
Closed at: 0.68740