Tradingwithtamil

NZDUSD: SUPPORT THROWS SHORT TRADE-THROWBACK.

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Hello traders,

NZDUSD is ready for quick long.

In the chart at the 1hr time frame, I can sense a real quick headshot trade.

At 0.69224, the market formed an impulse and brought the trend to the whole way down.

After that action, it executed a perfect downtrend channel correction (shown in the graph).

Due to the unwanted fluctuations, the impulse and correction formed rapidly.

At 0.68424, the chart printed a potential impulse and set a path for a breakout (shown in the graph).

Then, the signals travelled as a sharp slider. (evenly)

Ultimately, it landed at the point 0.69033 and forms a mirror image of the previous pattern.

Although, I m expecting a nice throwback from the previous support (shown in the graph).

It may run sharply to the down and have a throwback to the top.

In case the signals moved sharply towards down means, end the trade at 0.68720.

Wait for the move and decide your trade.

SIGNAL SPECIFICATION:

Pair: NZDUSD

Order: BUY

Pending Entry: 0.68828

Take profit: 0.69060

Stop loss: 0.68720

Risk Vs Reward: 2.18

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Note: Please leave comments for any query.

Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.

Best
Forextamil
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