NZDUSD 1h Short off Resistance Trendline Rejection
On a shorter time frame, the signal to short based off the main daily setup is more easily identified.
We have here a symmetrical triangle formed at the top of an uptrend.
The resistance trendline has been confirmed with the 3 points, and the support trendline as well - with roughly 5.
The short from this setup on the 1h has a target of slightly above the support trendline, and a stop loss of approximately above the end of the yellow resistance zone.
We have here a symmetrical triangle formed at the top of an uptrend.
The resistance trendline has been confirmed with the 3 points, and the support trendline as well - with roughly 5.
The short from this setup on the 1h has a target of slightly above the support trendline, and a stop loss of approximately above the end of the yellow resistance zone.
