NZD/USD 240 min Ascending Triangle Bearish

1. Feb. 2016

I'm looking for price to retest .6541. The overall trend has been really bearish and expecting that to continue. With that said, I want to see price test the .6541 area and reject on a 240 candle. I am going to wait after the 240 close on the test before getting short. I would have my stop just above the structure area around .6575 just in case of a fake out. I'm looking to take targets around .6370 for the 240 min and .6260 on the Daily. Good luck trading out there.

1. Feb. 2016

Anmerkung

Price broke .6541, not lets see how it closes. If price just blows through this level, I'm going to wait to see what it does. Maybe look at .6574 to get short or not at all. Patience

2. Feb. 2016

Trade ist aktiv

I'm short .6545

2. Feb. 2016

Anmerkung

Price is bounces off the trend line as expected. If we see a retrace up to .6540's that would be a great second chance opportunity to get short again. Good luck trading.