Looking at NZDUSD a potential sell opportunity.
Price has undoubtable shot up over recent weeks for NZDUSD. In fact, price hasn't reached the current heights since June 2018!
The Relative Strength Indicator (RSI) is showing us the market has been overbought.
We can also see the Ascending Trend which has the potential to break. Therefore, I will be opening a 'Sell Stop' trade. If price hits the 0.69946 my position will automatically open and I will have the Take Profits set as per my chart.
SL: 68 pips
TP1: 41 pips
TP2: 108 pips
Risk to Reward Ratio: 1.55
Remember to LIKE, COMMENT and FOLLOW for more trade ideas!
@newgenforex on all social media platforms :-)
Price has undoubtable shot up over recent weeks for NZDUSD. In fact, price hasn't reached the current heights since June 2018!
The Relative Strength Indicator (RSI) is showing us the market has been overbought.
We can also see the Ascending Trend which has the potential to break. Therefore, I will be opening a 'Sell Stop' trade. If price hits the 0.69946 my position will automatically open and I will have the Take Profits set as per my chart.
SL: 68 pips
TP1: 41 pips
TP2: 108 pips
Risk to Reward Ratio: 1.55
Remember to LIKE, COMMENT and FOLLOW for more trade ideas!
@newgenforex on all social media platforms :-)
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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.
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.