NZDUSD 1 HOUR BREAK AND RETEST TRADE SETUP
Updated
Hi everyone:
Here is my view on NZDUSD SHORT, Any type of feedback is greatly appreciated it. Thank you
Trade: #5
Date: 11/30/2016
Time: 05:00 GMT
Forex Pair/Commodity: NZDUSD
Position: SHORT (SELL)
Reward/Risk: 3:1
Opportunity:
Monthly: could not break above the 50 EMA resistance area, high test, follow by bearish candle, then last month end with another high test
Daily: over extended run to the downside, hit horizontal support and resistance line @ 0.7000, Price action formed high test after pulled back to 0.382 fibs retracement on daily chart, ascending trend line and 50 EMA. MACD bearish
4 Hour: break down the support trend line, 20 EMA, forming a small bearish flag pattern
1 Hour: double tops, break down 20/50 EMA and support trend line, retest at main pivot point, and 50 EMA, MACD showed double tops
Looking to take this pair to daily horizontal support and resistance trend line of 0.7000 area.
Thank you for your support
Here is my view on NZDUSD SHORT, Any type of feedback is greatly appreciated it. Thank you
Trade: #5
Date: 11/30/2016
Time: 05:00 GMT
Forex Pair/Commodity: NZDUSD
Position: SHORT (SELL)
Reward/Risk: 3:1
Opportunity:
Monthly: could not break above the 50 EMA resistance area, high test, follow by bearish candle, then last month end with another high test
Daily: over extended run to the downside, hit horizontal support and resistance line @ 0.7000, Price action formed high test after pulled back to 0.382 fibs retracement on daily chart, ascending trend line and 50 EMA. MACD bearish
4 Hour: break down the support trend line, 20 EMA, forming a small bearish flag pattern
1 Hour: double tops, break down 20/50 EMA and support trend line, retest at main pivot point, and 50 EMA, MACD showed double tops
Looking to take this pair to daily horizontal support and resistance trend line of 0.7000 area.
Thank you for your support
Note
Note
Date: 12/01/2016Time: 17:00 GMT
Now the trade has already make 1% profit, move my stop loss to break even @0.7100, still targeting the daily horizontal support and resistance line/area of 0.7000
Note
12/02/2016Time: 04:00 GMT
Got stop out at BREAK EVEN price @ 0.7100, before the NFP results.
Note
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