NZD/USD - Short Position
NZD/USD - Short Position
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Daily - We have been in a downtrend for the past few weeks, we broke through a key level and then had a impulsive move to the upside and price has now just reached this key level,now acting as a resistance.
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4 Hour - because we have just reached this resistance level,i will wait to see some price action before getting on this,MA cross-over looking very likely this would give me another confluence of a short position from this key level, Relative Strength Index (RSI) looks like it is going into the overbought section, giving another confluence of a short position (sell position).
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AUD/USD and NZD/USD,normally have a positive correlation with each other, this means when one pair goes down the other is following, and i have sent out analysis on AUD/USD, so please be careful when trading these pairs because you would be risking double you thought.
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Take-Profit (TP): TP1 - @0.61441, TP2 - @0.59495
Stop-loss (SL): SL - 0.66016
If you have any questions/enquries, just drop me a message in the comments !!
Kind Regards,
Kian P
...
Daily - We have been in a downtrend for the past few weeks, we broke through a key level and then had a impulsive move to the upside and price has now just reached this key level,now acting as a resistance.
...
4 Hour - because we have just reached this resistance level,i will wait to see some price action before getting on this,MA cross-over looking very likely this would give me another confluence of a short position from this key level, Relative Strength Index (RSI) looks like it is going into the overbought section, giving another confluence of a short position (sell position).
...
AUD/USD and NZD/USD,normally have a positive correlation with each other, this means when one pair goes down the other is following, and i have sent out analysis on AUD/USD, so please be careful when trading these pairs because you would be risking double you thought.
...
Take-Profit (TP): TP1 - @0.61441, TP2 - @0.59495
Stop-loss (SL): SL - 0.66016
If you have any questions/enquries, just drop me a message in the comments !!
Kind Regards,
Kian P
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