KhaleemAli

NZD/USD SHORT - CTL Bounce/Wicks/Shooting Star/H&S

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
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2
Took a short on this pair on the 1HR timeframe as it is trending downwards against a CTL and just bounced from it, i know it is significant as a lot of candle wicks were created on the resistance of it. Also on the 1HR it looks as though a head and shoulders pattern is forming. and if you look at the 4HR chart, there is lots of indecision at the CTL touch levels however it is in a downtrend so should resume going down, as you can see on the higher timeframe, it is bouncing between a channel on the daily timeframe .

TP @ 0.71400
SL @ 0.71783
R/R @ 2.25
Trade closed: stop reached: Missed target by less than 1 pip.

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