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brandonlz2017
Jun 21, 2016 4:24 AM

NZDUSD Horizontal Channel Breakout Soon - Potential Short Setup Short

New Zealand Dollar/U.S. DollarFXCM

Description

NZDUSD is set up for a double top at this moment.

If the price crosses .71024 area, it will most likely begin a multi-day downtrend if it can break through the support levels around .69231.



If price is able to stay within the channel and eventually cross over .71293 resistance level, NZDUSD may remain in uptrend mode.

I am going short if:

- price crosses down over .70982
- 3HR and 4HR MACD line crosses the signal line

Exit price range I am aiming for is in the .698's
Comments
brandonlz2017
Here is the horizontal channel at the 30minute time frame
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