NZDUSD, 4hr tf, sell ascending trendline break
Hello my friends,
Before i start with today trade ideas, let's review some of the trade i took yesterday.
There were 2 trade ideas i shared which are GBPAUD and GBPCAD sell positions.
Both trades now closed with a nice profits.
First trade is GBPAUD which i closed manually for +210 pips and banked 3.5R yielding 7% profit
Second trade is GBPCAD which i closed manually as well for +220 pips and banked 3.6R yielding 7.2% profit
For today i am going to sell NZDUSD because i think this pair could have some retracement retesting 0.6940 area.
The reason why is because price already broken below the ascending trendline and stopped making higher high.
This recent movement could be a lower high and might be followed by a lower low.
If you see the last daily candle close, it is also very clear that it was a bearish pinbar so we could see sellers step in to push price down.
Sell NZDUSD 0.7065
Stop loss 0.7105
Take profit 0.6945 (3R)
RR Ratio 1 : 3
Use only 1-2% risk
Good luck
Before i start with today trade ideas, let's review some of the trade i took yesterday.
There were 2 trade ideas i shared which are GBPAUD and GBPCAD sell positions.
Both trades now closed with a nice profits.
First trade is GBPAUD which i closed manually for +210 pips and banked 3.5R yielding 7% profit
Second trade is GBPCAD which i closed manually as well for +220 pips and banked 3.6R yielding 7.2% profit
For today i am going to sell NZDUSD because i think this pair could have some retracement retesting 0.6940 area.
The reason why is because price already broken below the ascending trendline and stopped making higher high.
This recent movement could be a lower high and might be followed by a lower low.
If you see the last daily candle close, it is also very clear that it was a bearish pinbar so we could see sellers step in to push price down.
Sell NZDUSD 0.7065
Stop loss 0.7105
Take profit 0.6945 (3R)
RR Ratio 1 : 3
Use only 1-2% risk
Good luck
