Shorting the NZDUSD is very good IDEA
As you can see in the chart,i have drew the big head and shoulder as it looks like the red resistance line 0.68807 is quite strong and should be the edge of head and shoulder.
why i think its the edge
*it has finished the chart with pin bar after touching the red strong resistance.
*it has been having certain amount of divergence from moving average so it should eventually comes back to where MA is lying.
*although it has break the pennant in short term,the price has been stopped with pin bar which likely to be the "fake break out" and when that happens it makes the evidence of bear coming stronger.
why i know shorting NZDUSD is a very good IDEA
one word.RISK AND RATIO RATE will be kept in nice amount.
you can loss cut if it just break that red line.
and take profit where ever you want.
eventually it will look like 5:1
why i think its the edge
*it has finished the chart with pin bar after touching the red strong resistance.
*it has been having certain amount of divergence from moving average so it should eventually comes back to where MA is lying.
*although it has break the pennant in short term,the price has been stopped with pin bar which likely to be the "fake break out" and when that happens it makes the evidence of bear coming stronger.
why i know shorting NZDUSD is a very good IDEA
one word.RISK AND RATIO RATE will be kept in nice amount.
you can loss cut if it just break that red line.
and take profit where ever you want.
eventually it will look like 5:1
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