NZDUSD-SHORT

Last Week NZDUSD Broke though the H4 Trendline to the Downside. Price Action Also Crossed below the 20 EMA & Retested Before Falling Back Down. Looking To Entry Short Off 50% Fib .67960 & Possibly Enter a second position at 61.8% Fib .67750 With a Stop Loss at the 38.% Fib .68169. Downside targets at 78.6%Fib .67452 & .67072. Price Action at the current supply zone will determine where the entry will be. Either a break to the downside or short correction before heading back down to Support at .6700

#Supply&Demand #Trendlines #20EMA #MarketStructure #Fibonacci #H4 #NZDUSD #SupportAndResistance

Kommentera:

Price is Currently Sitting at 50% Fib. Trade was up +30 pips Profit at market open.
Now Sitting -25 pips Drawdown from my entry at neckline break. Will continue monitoring price to see what happens next. Shorts are still viable even towards the upper range. If price breaks structure high will do a post-morterm analysis

Kommentera:

BOOM MOTHA FUCKAS TRADE IN PROFIT. Holding for the weeeek