NZDUSD Short (Order)
Setup Timeframe: 4H
Execution Timeframe: 4H
Risk: 2.25%
Reward: 4.56%
Reasons for Entry: Pair has been respecting the bearish TL, creating lower highs and lower lows, on the bigger picture, it rejected from a 50% bearish fib level. Set the order at the TL and 50% bearish fib level of the recent move down.
Reasons for SL placement: Above the 78.6% level, and above recent swing high. If it came up this high, bias would be more of a bullish breakout.
Reasons for TP placement: Good RR, if pattern is correct, pair should just continue down, even further down through the TP.
Execution Timeframe: 4H
Risk: 2.25%
Reward: 4.56%
Reasons for Entry: Pair has been respecting the bearish TL, creating lower highs and lower lows, on the bigger picture, it rejected from a 50% bearish fib level. Set the order at the TL and 50% bearish fib level of the recent move down.
Reasons for SL placement: Above the 78.6% level, and above recent swing high. If it came up this high, bias would be more of a bullish breakout.
Reasons for TP placement: Good RR, if pattern is correct, pair should just continue down, even further down through the TP.
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