NZDUSD: Example of Short Trade
Aktualisiert
The price broke SMA200 as strong support and the key trend line. It gives us a trend reversal signal. The daily timeframe looks bearish as well and we can expect a new downtrend to 0.62000 and 0.64000 support levels.
It is possible to use a reversal signal from SMA200 and 0.66000 resistance zone, if the price retest this zone one more time. It is possible to use a breakout signal below the local swing low.
Here is an example of a short trade based on the breakout signal.
Sell below 0.65195
Stop above 0.66050
Take Profit at 0.64000 and 0.62050
Risk per trade must be no more than 1-2% from the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
It is possible to use a reversal signal from SMA200 and 0.66000 resistance zone, if the price retest this zone one more time. It is possible to use a breakout signal below the local swing low.
Here is an example of a short trade based on the breakout signal.
Sell below 0.65195
Stop above 0.66050
Take Profit at 0.64000 and 0.62050
Risk per trade must be no more than 1-2% from the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Anmerkung
Watch for the price action at the resistance zone. The reversal will give another selling opportunity.
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