NZDUSD: Bearish idea based on structure
Hi traders,
On the NZDUSD we can see that price has broken the support area a few days ago. Now I'm looking for this support area to turn into a resistance area. It's also near the 38.2% Fibonacci retracement of the bigger downwards move.
Entry: 0.72400
Stop: 0.72604
Target: 0.71797 = R:RR 2.96
Good luck traders! Updates will follow.
On the NZDUSD we can see that price has broken the support area a few days ago. Now I'm looking for this support area to turn into a resistance area. It's also near the 38.2% Fibonacci retracement of the bigger downwards move.
Entry: 0.72400
Stop: 0.72604
Target: 0.71797 = R:RR 2.96
Good luck traders! Updates will follow.
Trade closed: target reached:
Perfection!
