NZDCHF breakdown?
Analysis
-NZDCHF looking bearish after showing signs of reversal after buyers pushed price up into resistance, wherein sellers stepped in and pushed price down before the daily candle close.
-The price action resulted in a daily candle pinbar setup AT RESISTANCE which is a bearish sign.
-On the 1H time frame, price just broke a bullish trend to the downside.
-There is also bearish RSI divergence on the 1H time frame which further eludes to price possibly reversing to the downside.
Entry, Stops and Targets
-Short Entry: 0.68655
-Stop Loss: 0.69045 (Set stop above the high of the daily reversal candle)
-Take Profit: 0.67953 (Set targets at a minimum of 1.8 times your stop depending on entry)
*Always practice good risk management and know your limit!*
-NZDCHF looking bearish after showing signs of reversal after buyers pushed price up into resistance, wherein sellers stepped in and pushed price down before the daily candle close.
-The price action resulted in a daily candle pinbar setup AT RESISTANCE which is a bearish sign.
-On the 1H time frame, price just broke a bullish trend to the downside.
-There is also bearish RSI divergence on the 1H time frame which further eludes to price possibly reversing to the downside.
Entry, Stops and Targets
-Short Entry: 0.68655
-Stop Loss: 0.69045 (Set stop above the high of the daily reversal candle)
-Take Profit: 0.67953 (Set targets at a minimum of 1.8 times your stop depending on entry)
*Always practice good risk management and know your limit!*
Haftungsausschluss
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