NZD/USD: Bearish Outlook and Entry Strategy
Resistance Level:
NZD/USD faces a crucial resistance level, signaling a possible reversal.
Harmonic Pattern:
The formation of the XABCD harmonic pattern reinforces bearish sentiment.
Anticipated Movement:
A downward trajectory is expected, indicating a shift from bullish to bearish.
Entry Strategy:
Short position suggested upon breach of 4-hour lower high, entry near 0.60150.
Risk Management:
Set stop-loss at 0.60500 to mitigate potential losses.
Take Profit Levels:
TP-1: 0.59774, TP-2: 0.59400, TP-3: 0.59035.
In summary, NZD/USD is poised for a downward movement, with entry and exit strategies outlined for traders' consideration.
NZD/USD faces a crucial resistance level, signaling a possible reversal.
Harmonic Pattern:
The formation of the XABCD harmonic pattern reinforces bearish sentiment.
Anticipated Movement:
A downward trajectory is expected, indicating a shift from bullish to bearish.
Entry Strategy:
Short position suggested upon breach of 4-hour lower high, entry near 0.60150.
Risk Management:
Set stop-loss at 0.60500 to mitigate potential losses.
Take Profit Levels:
TP-1: 0.59774, TP-2: 0.59400, TP-3: 0.59035.
In summary, NZD/USD is poised for a downward movement, with entry and exit strategies outlined for traders' consideration.
Trade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.