NZDUSD right on major support, prepare to sell on the breakout
Sell below 0.6885. Stop loss at 0.6921. Take profit at 0.6823.
Reason for the trading strategy (technically):
Price is now testing major support at 0.6885 (Multiple Fibonacci retracement, horizontal overlap support, ascending channel support) and we expect a break of this level to trigger a strong bearish drop towards 0.6823 support (Fibonacci retracement, horizontal swing low support).
RSI (34) is starting to see multiple bearish exits as a precursor to a drop we’re expecting.
Reason for the trading strategy (technically):
Price is now testing major support at 0.6885 (Multiple Fibonacci retracement, horizontal overlap support, ascending channel support) and we expect a break of this level to trigger a strong bearish drop towards 0.6823 support (Fibonacci retracement, horizontal swing low support).
RSI (34) is starting to see multiple bearish exits as a precursor to a drop we’re expecting.
Kommentera:
Kicking ass on this one! Honestly, do join our telegram group for better position management on such trades.
Trade stängt: målet nått:
Whoohoo! Pips in our pockets for the weekend!