NZDUSD Short (Reversal, double top...)

135
Note
-NZDUSD showing signs of reversal after intraday rejection of higher price (long daily wick) by forming a reversal candlestick pattern (Pinbar/Spinning top/Indecision) AT RESISTANCE
-NZDUSD formed a double top on 4H with confluence of a daily resistance level
-NZDUSD showing bearish divergence on 4H time frame
-Stochastic overbought at resistance

Entry
-Keep enough distance below the low of the reversal daily candle to confirm a transition of power from bulls to bears

Stop
-Above the high of the daily reversal candle

Target
-2 times stop

Risk Management
-Risk 1% to 2% of capital
-Ratio: 2:1

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