After NZD news spike yesterday - trend reconfirmed as short
Actualizado
I was short yesterday with NZDCHF 0.64% before the new announcement cause some chaos. I got out of the trade later in the day down a few pips waiting to see how it would react. I saw the price go up back to the previous swing high (news spike) and now have seen enough price action to let me enter the trade short again.
Comentarios
There were two reasons I took this trade:1) Two engulfing bearish candles on 1 hour at downward trendline including the news spike
2) Stoch RSI highs (.70+) excluding the news spike showed lower highs. So when price came back to retest previous high before news spike it ran into the downward trend and closed with (1) above.
Comentarios
After seeing what NZDJPY currency is doing, I've moved my stop loss above the most previous swing high. I am still at a 1:1 RR or better for both positions. I still believe the price will move down in the coming day(s).Comentarios
This is what I believe NZDJPY is doing:
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