EuroMotif

NSDUSD resistance zones to short: NU downtrend continuation

EuroMotif Mod Uppdaterad   
FX:NZDUSD   Nyzeeländsk dollar/USA-dollar
I am of the opinion that NU along with AU will continue downtrend based on momentum.

But I think they are at or near short term support zones.
I will be looking for a bounce to short.
The red zones are my areas of interest currently.

NOTE: to better see the overlapping numbers on my zones, drag the price scale on right side UPWARDS to magnify.
Kommentera:
Perfect test of first support.
It was not a strong support, but strong enough to stop the drop for now and offer a little bounce. That is perfect! If it bounces to a good resistance zone now, next drop will blow right through this green zone, because support there will have been weakened.
Kommentera:
Now for a test of how weak or strong that support was those two red fib lines will be resistance. If hold, then I will short. If breaks above, then I will wait for higher prices.
Kommentera:
Small short fired
Kommentera:
Jambed Stop Loss and Break Even, lets see if it survives going through that support zone
Kommentera:
First attempt taken out at BE. That support is stronger that I expected :(
Kommentera:
NU approaching first real resistance, watching closely.....
Kommentera:
NU short (small) fired, looks rejecting from 4.236 fib extension in my resistance zone
Kommentera:
so far so good, about to drag SL to BE
Kommentera:
Interesting rejection off top resistance. Perfect entry.
no evaluating this move.
Kommentera:
* now evaluating this move
Kommentera:
NU successively rejected at each red zone.
Maybe it will let me prove my ''weak support'' label was correct after all

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
Frånsägelse av ansvar

Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.