Possible short entry
As seen on the left chart the NZDUSD broke the downtrend channel. The break was weak, without strong momentum. On the lower timeframe you can see the price moves in a uptrend channel. In case the channel is broken down i will enter short position on the retest. Such break will push the price down back into the much bigger downtrend channel. Good luck.
Trade active
Channel was broken as expected. Short position open at 0.657. Target is open as i expect to see the price action after entering the old downtrend channel.Trade closed manually
Reversal pattern on 4 hours chart. Small profit. Will reenter the short in case it makes new low below 0.653.
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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.