Nzd-usd-short
NZDUSD ShortPrice action is within descending channel. Believe price will drop to the downside to test 0.6993 area. If price breaks below that could test 0.6920 support area.
NZDUSD Institutional Short Swing SetupHell traders!
This pair has been in a downtrend and this short-term upside we are seeing is still only just a pullback.
That being said the .6972 figure is marked as strong institutional resistance and pending shorts can be expected near the figure.
A push up into the figure may be matched by a swift sell-off.
Enjoy!
NZDUSD Short-term Technical OutlookYesterday's short-term technical outlook:
Price is currently breaking out of that rounded resistance trend line to the upside. If buying pressure holds the first upside target is at institutional resistance at .6926. This level will be key as a break above will signal a deeper pullback to major resistance at .6972.
For the time being a move above the .6972 resistance figure is unlikely and we can expect to see pending short orders near the figure. I would not be surprised to see a swift move into the figure to be faded.
I hope this offers some clarity on the directional bias on this pair.
Enjoy!
SHORT on NZDUSDAS YOU SEE HERE WE HAVE AN ABC PATTERN ABOUT TO BE FINISHED AS WELL AS THE ELIOTT 12345 PATTERN. THIS BIG CORRECTIVE STRUCTURE RESULTS FROM A BIG DOWNTREND IMPULSE IN THE WEEKLY CHART. I PLACED A SELL LIMIT ORDER AS YOU SEE AND LOOKING FOR A 500 PIP TRADE!! TELL ME WHAT YOU THINK
CARLOS
Short NZD/USD-broke upward trend, may be slight retracement then downward direction
- good r/r
- long term trade
Waiting for NZDUSD dropA short within the red zone is a good idea if you find a good entry on smaller time frames.
Shorts upon breakout is also advised, obviously.
Short 3 Potential Targets NZD USDShorting once bearish candle comes out in 4 hr chart and breaks area of resistence (colored in blue)
Possibly making 3 trades, each of different size in order to target all 3 target areas.
Watch out for news (fundamentals) that could send trade into loss.
LOOKING FOR PA ON THAT LEVEL MY VIEW:
STRONG SUPPLY LEVEL
HH, HL TREND CONTINUATION FORMTION
0.618 FIB % RETRACEMENT
DAILY CHANNEL
STRONG MACD DIVERGENCE
RSI ON OVERBOUGHT SIDE
NZDUSD SHORT?PROS
- Rejection of 0.618 retracement level
- Stoch RSI oversold on monthly, weekly, daily.
- Rejection of horizontal resistance
- Rejection of upward sloping trendline
- Reversal candle pattern
CONS
- Trading against the trend
- Trading toward key EMA's
TARGET
0.68562 - 0.618 retracement from previous swing low to latest high.
This retracement ties in with daily 50EMA
