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NU

NU short on H&S and overbought RSIthere appears to forming a head and shoulders pattern on NU. Also RSI and Stoch seem overbought. Weekly chart showed a bearish pin two weeks ago, and price is now at 50% retracement of last major swing down. All in all, this seems a nice opportunity to short NU. although there is the obvious risk of FOMC ahead, so small trade size... TP1 a the neckline, TP2 at 1.618 extension just my idea, appreciate feedback and or constructive criticism good luck
Short
by mcpeacocks
it is just a range, a very... very big range.Please look at addition chart for a bigger view. NZDUSD still in a down trend, and the support on the monthly chart is still indicate a very strong power of DXY . The monthly show a structure of a 2 overlap range of price, one in (purple range) and (orange range) as both pointed by a box in the additional chart below. Setup configuration :: (More info with a bigger views in the chart below) SHORT @ 0.6850 , (As point by orange box) This number come from a recently reversal a few month back... as point by (orange box) . STOP @ 0.7000 , (As point by red box) This come from the same point as (entry point orange box) with an extra pip. (as seen on red box). TARGET 1 @ 0.5400 This number come from a bigger range of price that has been shift over a few years back. (look at bigger chart for detail). TARGET 2 @ 0.4000 Using the same reason as the (1st target) but with additional extend drop price along of multi years strength of USDOLLAR , DXY . secondary chart for target and price range
Short
by Kevabatai
7
SHORT Setup for NZDUSDThis setup is base on the following price confluences. 1. Downtrend on Monthly chart wish has been initiated from a double top @ 0.8800 2. Support and Resistance lines for a very long expectation of down trend. 3. Fibonacci Pivots Points (Yearly) of S1, @ 0.78154 for resistance. Setup configuration :: (More info with a bigger views in the follow up monthly chart.) (As point by Blue box) This number come from many previous days, as well as during the last week. Including, this number also located approximately right at Fibonacci Pivots Points (Yearly) of S1. (As point by RED box) This number come from the last peak, and numeral smaller peak under its. Thus, it shown some sign of price rejection under this numbers. This number come from year 2010 rejection and several years before it. (As pointed by many small blue arrow)
Short
by Kevabatai
2