NZDUSD SHORT
Here's a short position I'll be taking on the NZDUSD.
I would have lined to get in earlier on this move but time constraints prevented me from getting enough chart time in. Nevertheless, a momentum move to the downside has occurred after the phase line on the daily time frame has been broken and retested as resistance.
Moving onto the intra-day time frames, the hourly chart shows clean lower lows and lower highs, trading below the 50 and 100 ema's and rejecting the pivot as resistance. After a large sell off, I'm selling on the pullback.
This is a medium to long term trade (1-3 weeks).
I would have lined to get in earlier on this move but time constraints prevented me from getting enough chart time in. Nevertheless, a momentum move to the downside has occurred after the phase line on the daily time frame has been broken and retested as resistance.
Moving onto the intra-day time frames, the hourly chart shows clean lower lows and lower highs, trading below the 50 and 100 ema's and rejecting the pivot as resistance. After a large sell off, I'm selling on the pullback.
This is a medium to long term trade (1-3 weeks).
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