NZDCHF - Temporary pullback to value. Sell at resistance

Pair has been in a nice sell of recently. This this is a good opportunity to rejoin the trend at value.

Price is heading up to trend line resistance / daily 8EMA (value) where price should sell off strongly again.

I've placed a SELL order at 0.7002

Bình luận:

here's been a big downtrend in NZD pairs recently and I missed my original entry by a few pips (Grrr!!), so I've been looking for a good opportunity to jump on board the continuation of this trend.

Price has been regularly retracing back and finding resistance at the Daily 8EMA, so I've simply used a previous support level (0.7000) and used this by placing a Sell order at that level.

Target: previous support level at 0.6898

Đóng lệnh: dừng lỗ:

I really tried to get in this way too early, chasing price up and up and spending way too much time to monitor it.

Particularly annoying is that I had only just commented on how price was looking week... and 10 minutes later it had completely reversed and hit my stop! I could have bagged nearly 1R - instead I made -1R.