NZDUSD Short - Falling from Top of Symmetrical Tri
Updated
Very simple and straightforward forecast here.
The NZDUSD has bee ranging within a symmetrical triangle for the last 6 weeks.
Price has climbed for 3 consecutive days and in the H1 chart, the rising trendline is already seen broken below.
The price has then retraced two waves in the M15 chart after the rising trendline in the H1 chart was broken.
Therefore, this is a straightforward and simple trade idea to short from the top of a major range after signs of reversal has appeared.
The NZDUSD has bee ranging within a symmetrical triangle for the last 6 weeks.
Price has climbed for 3 consecutive days and in the H1 chart, the rising trendline is already seen broken below.
The price has then retraced two waves in the M15 chart after the rising trendline in the H1 chart was broken.
Therefore, this is a straightforward and simple trade idea to short from the top of a major range after signs of reversal has appeared.
Note
So far so good. The dollar is retracing properly throughout the day.
The H4 chart is showing that there's committed sellers.
As we enter into the US session, the price will most likely face a bit or consolidation.
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