Retracement Off Dovish RBNZ Statement

2017년 5월 11일

The Reserve Bank of New Zealand was surprisingly more Dovish than expected. This caused the price of all NZD pairs to weaken. This is a simple trade. Wait for the price to retrace and then hop in. There are two good spots: 1.58500 & 1.58050. These are the 28.6% and 38.2% Fib Retracement levels and they are previous support/resistance lines on the hourly chart. The entry at 1.58500 is the more risky of the two; however, it is also more likely to occur.

I am targeting 1.6000 as my take profit, as that was the high last week. And, I have my Stop loss below the 61.8% fib level. As that level is also a previous support/resistance level: 1.5735

2017년 5월 16일

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