NZDUSD breaking out of consolidation? Needs confirmation.
Updated
From neutral to bearish (see previous idea/post link below) especially if we see a daily close as confirmation.
Measured target for this move shown in the chart.
This is a reversal trade and is a contrarian position against the overall preceding trend. I tend to view these setups as lower probability so I'm managing my risk here as best I can. Let's see what the market gives us.
This is not trading advice. Trade at your own risk.
Measured target for this move shown in the chart.
This is a reversal trade and is a contrarian position against the overall preceding trend. I tend to view these setups as lower probability so I'm managing my risk here as best I can. Let's see what the market gives us.
This is not trading advice. Trade at your own risk.
Note
Always important to wait for confirmation. Breakout is a dud for now. Very confusing price action here means more sideways most likely.Trade active
Some strong bearish PA is pushing the price lower. Bears are trying to fulfill this breakout maybe. If successful, we could be seeing a move down to the 0.69 handle.Went short with a small position just in case. Again, overall, I think this is a low probability setup at this point (but with a good R/R). Not trading advice. Please DYOR.
Trade closed: stop reached
Lost the small position here. Always wait for confirmation, kids!
Related publications
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.