NZDUSD Short opportunity
Heavy rejection at the 1D resistance, the price closed below the uptrend channel giving a good short signal and the price is sitting at the demand zone.
Downtrend confirmation is required before going short, if the next 4H candle closes in or below the demand zone there could be a good short entry opportunity:
Entry: 0.66190
SL: 0.66518 (Return to the bullish uptrend)
TP1: 0.65208 (Above the 1W now support trendline)
TP2: 0.64112 (Previous support before the possible H&S formation)
TP3: 0.60199 (Return to the previous 4H channel
TP4: 0.57309 (Testing of the bottom)
Don´t take this as an actual trading advice, just sharing my ideas. I´m still a novice trader so I would really appreciate your feedback and thoughts!
Downtrend confirmation is required before going short, if the next 4H candle closes in or below the demand zone there could be a good short entry opportunity:
Entry: 0.66190
SL: 0.66518 (Return to the bullish uptrend)
TP1: 0.65208 (Above the 1W now support trendline)
TP2: 0.64112 (Previous support before the possible H&S formation)
TP3: 0.60199 (Return to the previous 4H channel
TP4: 0.57309 (Testing of the bottom)
Don´t take this as an actual trading advice, just sharing my ideas. I´m still a novice trader so I would really appreciate your feedback and thoughts!
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