NZDUSD Short Opportunity, RR 1 : 1.8
NZDUSD one month rally has come to a stop as the long term channel has been broken, finally a short entry can be made on the current market price.
Reason :
- Price rejection on 0.7325
- Price currently 'flirting' around weekly resistance area.
- Finally a crossover of EMA21 on 4hourly chart.
- Potential to reach next support points :
Entry point Short : CMP or 0.7250-60 area ; TP1 : 0.7160, TP2 : 0.7110, TP3 : 0.7060 ; SL above previous high.
Risk Reward 1:1.8
Always remember to trade with stop-loss, market is crazy & cunning*
Reason :
- Price rejection on 0.7325
- Price currently 'flirting' around weekly resistance area.
- Finally a crossover of EMA21 on 4hourly chart.
- Potential to reach next support points :
Entry point Short : CMP or 0.7250-60 area ; TP1 : 0.7160, TP2 : 0.7110, TP3 : 0.7060 ; SL above previous high.
Risk Reward 1:1.8
Always remember to trade with stop-loss, market is crazy & cunning*
Order cancelled
Wedge formed on 4-hourly TF, SELL position cancelled. Possible upside target .7500
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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.