#NZDUSD Short term Forecast: Hit Hot Resistance | #forex
Update(March 5): First target reached, moved stop loss to break-even. Update(March 9): Full target reached.
I have been publishing multiple forecasts for the past few days, the price indeed reached my targeted resistance area at the 50-days SMA and 0.7620 before forming a bearish pin bar, which suggest a potential setback and resumption of the overall bear trend. For previous analysis check the related links below..
I already placed my limit sell order at 0.7575 level.
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Trading Criteria: 1. Trades are taken in two units 2. First unit would be closed at first target 3. Stop loss is then moved to break-even 4. Second unit would be closed at second target Notes: 5) If 90 percent of first target is reached I move stop loss to breakeven. 6) If 90 percent of first target is reached without triggering entry I cancel the trade. 7) Remember: Losing is a main part of the game ------------------------------------------------------------------------------------------------------------------------------------------------------------ Good luck, keep your stops tight.. twitter.com/thefxchannel facebook.com/thefxchannel plus.google.com/+Thefxchannel0 My best regards Technician
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