NZDUSD: Double Top at Resistance
Updated
Hi Traders,
Kiwi has formed a double top reversal pattern at previous resistance. I am looking for a "2618" opportunity to go short as indicated on the chart. Price is very close to the entry level at the 61.8% retracement of the move from the second top to the lowest point below the neckline.
Entry: 0.72740
Stop: 0.73320
Target 1: 0.72060
Target 2: 0.71710
There is Australian employment data being released today, and Kiwi has some correlation to that event.
If you found this idea useful, leave a like or comment, it is always appreciated. Remember to follow for setups every week.
Luke
Kiwi has formed a double top reversal pattern at previous resistance. I am looking for a "2618" opportunity to go short as indicated on the chart. Price is very close to the entry level at the 61.8% retracement of the move from the second top to the lowest point below the neckline.
Entry: 0.72740
Stop: 0.73320
Target 1: 0.72060
Target 2: 0.71710
There is Australian employment data being released today, and Kiwi has some correlation to that event.
If you found this idea useful, leave a like or comment, it is always appreciated. Remember to follow for setups every week.
Luke
Trade active
Trade closed: stop reached
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