Hello Traders, today I'm looking at the NZDCHF trading pair for possible shorting opportunities and here's why :
-We've seen the market react off a current supply zone and usually, for the demand and supply traders, a trading opportunity would have been right at that reaction/rejection.
-Although we missed the first entry, we see that the market formed a double top at the supply zone and the possibility of a pullback to say 50% fib level exist.
- If we get the pullback, then we would short to the next structure support level, keeping our RR at a minimum of 3.
Stay Reactive nonetheless.
-We've seen the market react off a current supply zone and usually, for the demand and supply traders, a trading opportunity would have been right at that reaction/rejection.
-Although we missed the first entry, we see that the market formed a double top at the supply zone and the possibility of a pullback to say 50% fib level exist.
- If we get the pullback, then we would short to the next structure support level, keeping our RR at a minimum of 3.
Stay Reactive nonetheless.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.