NZD/USD Trade Idea Short

New Zealand Dollar/U.S. DollarFXCM

Description

⋅ Nov 7, 2019 9:55 AM

Hello and welcome to my Trade Idea of the currency pair NZD/USD.

Lets start with the Top Down Analysis.

Monthly: The monthly timeframe is in a beautifully downtrend.

Weekly: The weekly timeframe is in a downtrend too with nice up and down waves.

Daily: The price closed under the daily resistance area .

H4: Here we draw the counter trendline . The price has already confirmed the counter trendline .

Have a nice day.

Comments

forx4life

⋅ Nov 8, 2019 6:02 PM

Thank you!

Bullandbeartrading

⋅ Nov 8, 2019 8:41 PM

@forx4life, no problem !!

Junkievirus

⋅ Nov 7, 2019 10:03 AM

Nice one, But I think It's false breakout.

Kingmusshy21

⋅ Nov 7, 2019 1:21 PM

@Junkievirus, No, the probability of it continuing down is much higher than it retracing back up

Bullandbeartrading

⋅ Nov 8, 2019 8:41 PM

@Kingmusshy21, yes strong counter trendline breakout.

Bullandbeartrading

⋅ Nov 8, 2019 8:40 PM

@Junkievirus, no. We are going down.