NZDUSD Short (Reversal, double top...)
Note
-NZDUSD showing signs of reversal after intraday rejection of higher price (long daily wick) by forming a reversal candlestick pattern (Pinbar/Spinning top/Indecision) AT RESISTANCE
-NZDUSD formed a double top on 4H with confluence of a daily resistance level
-NZDUSD showing bearish divergence on 4H time frame
-Stochastic overbought at resistance
Entry
-Keep enough distance below the low of the reversal daily candle to confirm a transition of power from bulls to bears
Stop
-Above the high of the daily reversal candle
Target
-2 times stop
Risk Management
-Risk 1% to 2% of capital
-Ratio: 2:1
-NZDUSD showing signs of reversal after intraday rejection of higher price (long daily wick) by forming a reversal candlestick pattern (Pinbar/Spinning top/Indecision) AT RESISTANCE
-NZDUSD formed a double top on 4H with confluence of a daily resistance level
-NZDUSD showing bearish divergence on 4H time frame
-Stochastic overbought at resistance
Entry
-Keep enough distance below the low of the reversal daily candle to confirm a transition of power from bulls to bears
Stop
-Above the high of the daily reversal candle
Target
-2 times stop
Risk Management
-Risk 1% to 2% of capital
-Ratio: 2:1
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.