Entered this trade @ 08h NY time. See notes below for my whole top down analysis.
Note: Before all this, I waited for the DXY to confirm bearish Price Action on the dollar. If the dollar wasn't bearish, this whole trade idea would be low probability for me.
Note: Before all this, I waited for the DXY to confirm bearish Price Action on the dollar. If the dollar wasn't bearish, this whole trade idea would be low probability for me.
Note
Long term: Coming from a Monthly Fair Value Gap.Note
2. Intermediate term: Daily Confirming price wants to go higher and aligning with the Monthly TimeFrame.Note
3. 1h Perspective: From Which Array will we move higher from?Note
4. Short term perspective.Trade closed manually
I placed my position breakeven and my trade was closed.Reason: no impactful USD news for today, and if you read the price action on NZDUSD and DXY, you can see how choppy price action is. This for me is low probability and makes this setup high risk.
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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.