Get started
New Zealand Dollar / U.S. Dollar

NZDUSD Symetrical Triangle Formation SHORT

By FranciscoBento
Updated
The formation of this triangle in the 1D is evident, so I think the price will test the identified support zone and should come down. Let's see how this reacts to the zone and eventually open a short position. This is my analysis. We only open position with bearish confirmation.
Note
On the H4 we can see that the price rejected the trend line and it's pushing down. I've opened a SHORT position at 0.68850 with a tight SL at 0.69150. Let's see how it goes during the day and hopefully we can close positions with some good profit.
Note
snapshot H4 Chart
Note
snapshot H4 Chart closer
Note
It continues to fall :D +30pips profit on this!
Trade closed: target reached
I've closed my position with +40 pips profit! Thank you all!
Note
It continues to fall +20 pips! Thank you guys for following! Hopefully we can make more profits day by day!
Chart PatternsNZDUSDnzdusddailynzdusdshortnzdusdtrade
FranciscoBento

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.