NZDUSD Short
Direction: - In the last level of a Bullish Cycle, which indicates a reversal is imminent.
- Second leg of source formed on the H1 & H4 indicating a breaker will form and Bearish Orderflow is going to occur soon.
- Daily TDI indicated pair was heavily overbought and was due to start dropping long-term.
Entry: - M (Double Top) Pattern Formation.
- Yesterdays High was never broken and was being respected, indicating a resistance point. Therefore, the market was looking to go down.
- RSI is near the 68, indicating the pair is exhausted and near overbought. This gives an indication the pair will drop.
- Divergence indicates the pair will drop.
- Candle closed below 13 EMA indicating pair will most likely continuously drop. This is my entry.
Exit: - 17 pip SL @ 7 pips above YH (Yesterday's High).
- 45 pip TP @ just above YL (Yesterday's Low), as this can be a support point.
Direction: - In the last level of a Bullish Cycle, which indicates a reversal is imminent.
- Second leg of source formed on the H1 & H4 indicating a breaker will form and Bearish Orderflow is going to occur soon.
- Daily TDI indicated pair was heavily overbought and was due to start dropping long-term.
Entry: - M (Double Top) Pattern Formation.
- Yesterdays High was never broken and was being respected, indicating a resistance point. Therefore, the market was looking to go down.
- RSI is near the 68, indicating the pair is exhausted and near overbought. This gives an indication the pair will drop.
- Divergence indicates the pair will drop.
- Candle closed below 13 EMA indicating pair will most likely continuously drop. This is my entry.
Exit: - 17 pip SL @ 7 pips above YH (Yesterday's High).
- 45 pip TP @ just above YL (Yesterday's Low), as this can be a support point.