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Short NZDUSD at key range resistance
New Zealand Dollar / U.S. Dollar
Short
Short NZDUSD at key range resistance
By cobusvdm
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Updated
Jul 13, 2017
4
Jun 28, 2017
Short NZDUSD at 50% retracement of June 27 shooting star / pin bar. Reason for trade:
Price at key range resistance
False break of channel resistance
Shooting star / pin bar price action formation
USD oversold given Fed hawkish tone and NZD overbought given RBNZ dovish tone
Therefore USD at good discounted value
1:2 Risk/Reward potential
Jun 29, 2017
Trade active
Jun 30, 2017
Note
Entered short at market 0.73103 on 2017/06/28
Stop loss set at 0.7362 (51.7 pips)
1st Profit Target set at 0.7194 (116 pips)
Jul 8, 2017
Note
pbs.twimg.com/media/DEKfPc1XkAAg4Vt?format=jpg
Net long NZDUSD futures interest (COT) at 4 year high. Further support of an extreme and possible turn lower.
Jul 11, 2017
Note
2nd Profit Target set at 0.7145 @32.8% Fib retracement level of May 11 low and June 30 high
Jul 13, 2017
Trade closed: stop reached
1R stop loss hit
NZDUSD
nzdusdshort
short
cobusvdm
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