Shorting based on broken trendline, the trendline is being tested as I write this. Am expecting some consolidation in the consolidation box and a rally to the downside.
IF IT BREAKS OUT ... SELL ORDER @0.70500 TP@0.69600
A potential Head & Shoulders Pattern appeared. If the price breaks the support zone near 0.70xx, look for any pullback to short this pair. It will be a high risk to reward ratio pair of 1:3! Remember to trade with proper risk management.
little bit confuse with this trade but according to price action is has to go up . Let see now . I am taking a long position with little margin so I personally advice you to use little margin Thanks
(i) Valid bearish break of trendline - Initiate short positions (ii) If price action re-tests trendline & moves up - No trades (iii) For upside move, as per my rules risk-reward not favorable, so I will look for only shorting if trendline breaks There are potential pattern setups in NzdUsd I will update them when its about to complete. Before entering anyside...
Wait for the price to correct and then add to the trade (or enter if you didn't short last week). Don't follow blindly. Follow your rules and money management. Feel free to ask questions or share your ideas.
This is an update of the previous NZDUSD idea I published. I just added Wolfe Waves. Check out the previous one below: ANYTHING CAN HAPPEN! Follow me for more kick-ass ideas.