NZDUSD Short, MBA TA friday
Market structure good, HL and LL's, has pulled back to the 61.8 fibs from the last big push down.
Has started to respect new downtrend. I think it will make a new LL but with the current global problems
I will look to take profit on the 50 Fibs from last push up just incase. I have opened two positions,
One a safer position with stop loss above last HL and second position with tight stop loss to gain
maximum RR. Will look to hold second position and wait to see reaction once it gets to 50 fib and 61.8 fib.
I expect to be holding position for 1-3 weekks.
Has started to respect new downtrend. I think it will make a new LL but with the current global problems
I will look to take profit on the 50 Fibs from last push up just incase. I have opened two positions,
One a safer position with stop loss above last HL and second position with tight stop loss to gain
maximum RR. Will look to hold second position and wait to see reaction once it gets to 50 fib and 61.8 fib.
I expect to be holding position for 1-3 weekks.
Comment:
I meant LH for market structure not HL