Possible Short on the NZDUSD
Price gave a short signal on this pair at an area of heavy confluence on the 4H chart.
• The 4H chart shows that price is in an upward channel and has reached the top of that channel.
• Price has neared the long-term downward trend lines on the weekly and the daily.
• A fib retracement of the previous long down swing shows price is at the 61.8% level.
• Price has also reached the 200MA on the daily chart.
• And last, but not least, the stochastic shows oversold and is in divergence with the current price action.
I've marked the areas that I believe price will come back down to for a 1.5-2 Risk:Reward potential opportunity.
For a more thorough explanation find me on instagram: fx_strategery
• The 4H chart shows that price is in an upward channel and has reached the top of that channel.
• Price has neared the long-term downward trend lines on the weekly and the daily.
• A fib retracement of the previous long down swing shows price is at the 61.8% level.
• Price has also reached the 200MA on the daily chart.
• And last, but not least, the stochastic shows oversold and is in divergence with the current price action.
I've marked the areas that I believe price will come back down to for a 1.5-2 Risk:Reward potential opportunity.
For a more thorough explanation find me on instagram: fx_strategery
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.