NZDUSD has now moved to the resistance line of the descending triangle after trying to breakout of the triangle earlier.
Breakout is expected any time for a good trade.
Be patient with the market.
Model Zero:Alpha 1|4 : Journal.
Risk management: Compound. Level: PA. Time: intermediate to long-term. This is just my view follow if it aligns with yours. Ideas are not repeated rather updated.
Previous setup
Sell below 0.7055. Stop loss at 0.7181. Take profit at 0.6822.
Reason for the trading strategy (technically):
Price has tested our major resistance area and is dropping nicely. We remain bearish looking to sell below major resistance at 0.7055 (Fibonacci retracement, horizontal overlap resistance, resistance area) and we’re expecting a drop from this level...
Here are 3 levels I am looking to enter. NU finally broke down trend on a bat completion with traditional target already reached. Now we sit and wait with our orders on the retracement.
