Kiwi Dollar Short
Here is one way of considering price reversal for the Kiwi Dollar from 65c to 62c through the month of June 2022.
Recent price action may have seen a top at .6575 , and there is a hint of a double top. The intraday chart is making lower highs and lower lows suggesting a downward channel.
IF this reversal continues then a trade short within 2 support and resistance levels of the recent uptrend can be considered (on the chart).
The trade is invalidated with a stop just above .6575.
Risk reward is conservative at 2+ .
Recent price action may have seen a top at .6575 , and there is a hint of a double top. The intraday chart is making lower highs and lower lows suggesting a downward channel.
IF this reversal continues then a trade short within 2 support and resistance levels of the recent uptrend can be considered (on the chart).
The trade is invalidated with a stop just above .6575.
Risk reward is conservative at 2+ .
Note
The rainbow was completed on the 15th of June.
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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.
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.