NZDUSD - Good Short Entry
Updated
Good short entry - likely to be retracement rather than reversal.
2 targets:
TP1: 0.699~ above recent structure support and EMA 200 on 1hr
TP2: Previous fib 618 and above recent low on 4hr
SL2: will be dynamic and adjusted to entry for no risk trade when PA reaches 0.7050~
2 targets:
TP1: 0.699~ above recent structure support and EMA 200 on 1hr
TP2: Previous fib 618 and above recent low on 4hr
SL2: will be dynamic and adjusted to entry for no risk trade when PA reaches 0.7050~
Trade active
PA rebounded off 0.7057 area - may retest 0.7135. SL remain the same until 236 fib is brokenNote
Shifted SLs to .722~ for more breathing space - prepared to take the hit if does not go as planned.Trade closed manually
Look for reentry short if price breaks upwards for one final leg before shorting. Pips gained cancelled out swaps lol
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