NZDCHF | Strong Resistance Area!

Hey!

Despite CHF "crash", NZDCHF offers us a trade opportunity - SELL trade criteria:
- Two trendlines should act as a resistance. The fat black line is more important than the tiny one above of it.
- The orange line should act as a resistance level
- The round number just above those levels 0.69000, which also should act as a resistance and it also should work as a fake out "brake" above the mentioned trendlines.
- The upwards channel upper trendline should react as resistance.

It looks like pretty strong price levels because several price action criteria matching each other in one area. Perfect entry would be 0.69000 but wait for rejection from smaller timeframes.


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*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!

Commentaire:

"SELL Box":

Transaction en cours

Commentaire:

Looks like we have gotten one more sign:
- A small Shooting Star, bearish candlestick pattern from important trendline and resistance line crossing area - from light blue box!