NZDUSD Short - Flashcard
NZDUSD Short
Direction: - This pair was at Source. This is an area where liquidity is trapped, so the market was expected to rise to this point then drop heavily.
- The M (Double Top) pattern formed in the H4 OB (Orderblock).
- Pair expected to reverse into Bearish Orderflow. Therefore, Bearish Momentum expected soon on the H4.
Entry: - H4 OB (Orderblock) indicates an area where liquidity is trapped. Markets are expected to grab this liquidity at source then drop.
- M (Double Top) Pattern Formation.
- 13 EMA Cross indicates continuation of drop in pair. This is my entry.
- RSI crossed volatility bands (Shark-fin), indicating pair will drop.
- RSI is above the 68 indicating the pair has been heavily overbought.
- MBL (Market Base Line) near the 68 pointing down, indicates that the pair is due to drop.
- Divergence indicates probable drop.
Exit: - 20 pip SL @ just above YH as this is a resistance point.
- 37 pip TP @ just above YL as this is a support point.
Direction: - This pair was at Source. This is an area where liquidity is trapped, so the market was expected to rise to this point then drop heavily.
- The M (Double Top) pattern formed in the H4 OB (Orderblock).
- Pair expected to reverse into Bearish Orderflow. Therefore, Bearish Momentum expected soon on the H4.
Entry: - H4 OB (Orderblock) indicates an area where liquidity is trapped. Markets are expected to grab this liquidity at source then drop.
- M (Double Top) Pattern Formation.
- 13 EMA Cross indicates continuation of drop in pair. This is my entry.
- RSI crossed volatility bands (Shark-fin), indicating pair will drop.
- RSI is above the 68 indicating the pair has been heavily overbought.
- MBL (Market Base Line) near the 68 pointing down, indicates that the pair is due to drop.
- Divergence indicates probable drop.
Exit: - 20 pip SL @ just above YH as this is a resistance point.
- 37 pip TP @ just above YL as this is a support point.
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.