NZDUSD - LONG TERM CONTINUATION - SHORT TRADE
Updated
NZDUSD Multi timeframe analysis.
This is a short trade taking the DAILY downtrend as my bias using the Four Hour all the way down to the One Minute to pinpoint my entry.
1. Daily Downtrend Continuation
2. Price at the SHARK Pattern with perfect ratios
3. Price has spiked out of every ADR channel at the high from the Four Hour - One Minute
4. A VSA entry on any timeframe is triggered at either a Weekly Pivot OR has spiked through a Weekly Pivot and pulled back closing below it in this case
5. Enter Trade
T1. Target 1 is the closest Weekly Pivot to a 38.2 retracement of the pattern setup (Will be adjusted if the trade is carried across weeks)
T2. Target 2 is price spiking below the highest timeframes ADR channel, in this case, the Four Hour (Will be adjusted if the trade is carried across weeks)
T3. Target 3 is a 2.000 extension of the Daily trend retracement (Used more for trend position building VS expecting the price to reach it every trade)
This is a short trade taking the DAILY downtrend as my bias using the Four Hour all the way down to the One Minute to pinpoint my entry.
1. Daily Downtrend Continuation
2. Price at the SHARK Pattern with perfect ratios
3. Price has spiked out of every ADR channel at the high from the Four Hour - One Minute
4. A VSA entry on any timeframe is triggered at either a Weekly Pivot OR has spiked through a Weekly Pivot and pulled back closing below it in this case
5. Enter Trade
T1. Target 1 is the closest Weekly Pivot to a 38.2 retracement of the pattern setup (Will be adjusted if the trade is carried across weeks)
T2. Target 2 is price spiking below the highest timeframes ADR channel, in this case, the Four Hour (Will be adjusted if the trade is carried across weeks)
T3. Target 3 is a 2.000 extension of the Daily trend retracement (Used more for trend position building VS expecting the price to reach it every trade)
Trade active
TP1 Adjusted to 0.63440 and 45% of the position closed manually.Trade closed: stop reached
Stops were moved to BE upon first targets. All of the position is closed.
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.