In 4H time frame we have clear bearish move, which followed by bullish corrective move. price retraced to 50% area of Fibonacci ratio in corrective manner, price failing to create HH which base on Dow theory is the first signal for trend weakness.
for trading this pair at 6th of October if price manage to come lower than 0.69490 and remain below the EMA 144 in 15 minute time frame could signal for short position first target is 0.69130 and 2nd target would be 0.68950.
will update this pair again for u guys.
for trading this pair at 6th of October if price manage to come lower than 0.69490 and remain below the EMA 144 in 15 minute time frame could signal for short position first target is 0.69130 and 2nd target would be 0.68950.
will update this pair again for u guys.
Trade closed: target reached:
well both target reached very nicely, and due to USD gaining power and NZD loosing we saw a very impulsive bearish move which as a result our position closed pretty soon.
Hope u enjoyed it. Cheers,
Hope u enjoyed it. Cheers,
