As seen on the left chart the NZDUSD broke the downtrend channel. The break was weak, without strong momentum. On the lower timeframe you can see the price moves in a uptrend channel. In case the channel is broken down i will enter short position on the retest. Such break will push the price down back into the much bigger downtrend channel. Good luck.
Handel aktiv:
Channel was broken as expected. Short position open at 0.657. Target is open as i expect to see the price action after entering the old downtrend channel.
Trade stängt manuellt:
Reversal pattern on 4 hours chart. Small profit. Will reenter the short in case it makes new low below 0.653.