I went short the Polish Zloty (PLN) via a long EURPLN position.
My models point to a overvalued Polish Zolty, that in combination with an underlying bullish structure gives us a nice setup.
Risk/Reward ratio = 6
This is a longer term position, if you take the trade, make sure your Broker charges you competitive swap rates.
Manage you risk properly.
The 13 EMA has Broken above the 5 EMA on the 4 Hour Time Frame
The Fast MA on the Trade Development Index has already broken the 80 implying that the currency pair was over bought
Fib Retracement confirms a target to the Short side
Take Profit is Derived from Pivots
Closing price (black) is near horizontal level price, EMA 10 Close Price, EMA 20 Close Price, and a Previous Pivot Point Price; Enter a long position. The rejection candlestick open and close price has a short distance.