Looking to Short NZDUSD with this setup. (UPDATED)

FOREXCOM:NZDUSD   New Zealand Dollar / U.S. Dollar
The the chart we can see a clear reversal pattern ( Double Top ) formed, and also a break through the up trend support that has held for days.

We see that Price is about testing the 0.66177 horizontal support, at this level, I'm expecting a little rejection to the upside before finally breaking breaking through the horizontal support to the downside.

We can make our entry with 1:3RR at 0.66410 and SL=0.66826 and TP=0.65164.

Please do let me know your thoughts and questions in the comment session.


hi mate, I'm not too sure what to do because if you look at EURNZD that's looking to sell meaning NZDUSD might Buy? what are your thoughts on this?

+2 Reply
youngbossy jaydanroach00
@jaydanroach00 I see a double bottom on EUR/NZD pair with price strongling to break the neckline on 1D chart.

If it does break the neckline, I think it'll be best to go long on retest to support.

I might chart this latter before start of trading.
like your trade bro! thanks
+1 Reply
nice clean set up
+1 Reply
It was great to see your work
+1 Reply
youngbossy CFDStephenwood
@CFDStephenwood good to hear from you.. Thanks.
Nice trade!!!!

Did you wait for the new lower high or execute on the trend line break and retest?