NSDUSD resistance zones to short: NU downtrend continuation
I am of the opinion that NU along with AU will continue downtrend based on momentum.
But I think they are at or near short term support zones.
I will be looking for a bounce to short.
The red zones are my areas of interest currently.
NOTE: to better see the overlapping numbers on my zones, drag the price scale on right side UPWARDS to magnify.
But I think they are at or near short term support zones.
I will be looking for a bounce to short.
The red zones are my areas of interest currently.
NOTE: to better see the overlapping numbers on my zones, drag the price scale on right side UPWARDS to magnify.
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Now for a test of how weak or strong that support was
those two red fib lines will be resistance. If hold, then I will short. If breaks above, then I will wait for higher prices.
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Small short fired
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Jambed Stop Loss and Break Even, lets see if it survives going through that support zone
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First attempt taken out at BE. That support is stronger that I expected :(
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NU approaching first real resistance, watching closely.....
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NU short (small) fired, looks rejecting from 4.236 fib extension in my resistance zone
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so far so good, about to drag SL to BE
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Interesting rejection off top resistance. Perfect entry.
no evaluating this move.
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* now evaluating this move
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NU successively rejected at each red zone.
Maybe it will let me prove my ''weak support'' label was correct after all
Maybe it will let me prove my ''weak support'' label was correct after all
the Golden Ratio is my Religion
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the Trading View is my Nation
the Moderator Tag is my Flag
It was not a strong support, but strong enough to stop the drop for now and offer a little bounce.