Danielelias-17
Short

NZDUSD DOWNTREND TECHNICAL ANALYSIS 8 - 12 OCTOBER 2018

OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
DOWNTREND
PREVIOUS SWING HIGH - 0.66994
PREVIOUS SWING LOW - 0.65012
BROKEN STRUCTURE - 0.65280
PREDICTION: 0.64483- 0.63776
NEXT SUPPORT - 0.63861
LOOK FOR SHORT ENTRY REASONS ON SHORTER TIME FRAME
ONLY PLACE TRADE IF RISK TO REWARD IS <1
STOP LOSS: 0.65012
TAKE PROFIT 1: 1.414 EXTENSION
TAKE PROFIT 2: 1.618 EXTENSION
TAKE PROFIT 3: 0.63449
KEEP IN MIND THAT ON THE DAILY THE MARKET IS OVERSOLD AND ON THE 4 HOUR CHART THE RSI AND MACD ARE DIVERGING BULLISH
PLACE STOP LOSS TO BREAK EVEN WHEN PRICE HIT'S FIRST TARGET
LOOK OUT FOR ECONOMICAL EVENT'S
THIS IS JUST MY ANALYSIS IT COULD BE RIGHT OR WRONG.
PLEASE LEAVE POSITIVE FEEDBACK, CRITICISM, YOUR THOUGHT'S AND YOUR IDEAS
lIKE IF YOU FOUND THIS USEFUL AND FOLLOW ME FOR MORE IDEAS- I WOULD REALLY APPRECIATE IT
GOOD LUCK, TRADERS
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