NZDUSD SHORT NOW AT 0.76 AND TRIANGLE RESISTANCE
BASIS FOR SHORTING THIS TRADE IS BELOW
REACHING THE END OF THE TRIANGLE PATTERN
BREAKOUT COULD BE UP OR DOWN YES, BUT CORRELATION BETWEEN AUDGBPEUR AND NZDJPY SUGGEST DOWNWARDS BREAK MORE PROBABLE
D1 HAS FAILED TO CLOSE ABOVE 0.76 4 DAYS STRAIGHT
LASTLY, FOR CORRELATION REASON AND SIMPLY I FEEL NZDUSD HAS OVEREXTENDED ITSELF. SAME AS AUDUSD WHICH HAS OVEREXTENDED ITSELF AND HAS PRODUCED A D1 PIN BAR AT 50SMA(WORTH TRADING TOO) KEEP A LOOKOUT.
EURUSD AND GBPUSD HAS MOVED DOWN SO MUCH WHILE NZDUSD AND AUDUSD ARE ENJOYING AN UPWARD MOMENTUM? HOW CAN THAT BE ALTHOUGH I KNOW NZD IS MORE CORRELATED TO AUD THAN EUR AND GBP, BUT THE DISPARITY IS TOO MUCH THUS IM SHORTING THIS.
SELL NOW WITH STOP AT 0.7635. TP1 0.751
D1 CHART
SUBSCRIBE, LIKE COMMENT MY IDEAS IF YOU AGREE OR DISAGREE.
HAPPY PIPPING.
REACHING THE END OF THE TRIANGLE PATTERN
BREAKOUT COULD BE UP OR DOWN YES, BUT CORRELATION BETWEEN AUDGBPEUR AND NZDJPY SUGGEST DOWNWARDS BREAK MORE PROBABLE
D1 HAS FAILED TO CLOSE ABOVE 0.76 4 DAYS STRAIGHT
LASTLY, FOR CORRELATION REASON AND SIMPLY I FEEL NZDUSD HAS OVEREXTENDED ITSELF. SAME AS AUDUSD WHICH HAS OVEREXTENDED ITSELF AND HAS PRODUCED A D1 PIN BAR AT 50SMA(WORTH TRADING TOO) KEEP A LOOKOUT.
EURUSD AND GBPUSD HAS MOVED DOWN SO MUCH WHILE NZDUSD AND AUDUSD ARE ENJOYING AN UPWARD MOMENTUM? HOW CAN THAT BE ALTHOUGH I KNOW NZD IS MORE CORRELATED TO AUD THAN EUR AND GBP, BUT THE DISPARITY IS TOO MUCH THUS IM SHORTING THIS.
SELL NOW WITH STOP AT 0.7635. TP1 0.751
D1 CHART
SUBSCRIBE, LIKE COMMENT MY IDEAS IF YOU AGREE OR DISAGREE.
HAPPY PIPPING.