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
Trade active
Note
Entered short at market 0.73103 on 2017/06/28Stop loss set at 0.7362 (51.7 pips)
1st Profit Target set at 0.7194 (116 pips)
Note
pbs.twimg.com/media/DEKfPc1XkAAg4Vt?format=jpgNet long NZDUSD futures interest (COT) at 4 year high. Further support of an extreme and possible turn lower.
Note
2nd Profit Target set at 0.7145 @32.8% Fib retracement level of May 11 low and June 30 high
Trade closed: stop reached
1R stop loss hit
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.
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.