NZDCHF Looks Ready for a Selloff
Updated
NZDCHF buying looks significantly weaker and it appears ready for a drop. I have identified 4 potential targets of retracement and while this isn't the ideal entry it will do. I will be monitoring my trade closely as it was very choppy on the way up and volatility could be a reoccurring theme throughout the week with much happening in both the European and US markets. Note that there a few economic releases for both of these currencies however, they shouldn't have much impact on the exchange rate. Trade closed: stop reached
Bad entry + bad stop placement = a missed opportunity. I had high hopes for this one and after a rapid move to my stop it sliced through my first target almost reaching my second target before coming bak up and hitting my stop again.
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