NZDUSD H1 Sell/Short

24 mar 2020

We can see a triangle pattern forming on the H1 chart in NZDUSD

We can enter in this trade two ways in a short position

1. Entry at Reversal from the trend resistance and see if it breaks downside, if it breaks downside there is a minor support which can push the price up from there, then we will exit the trade with 3% profit and if it breaks the support also then we will exit the trade in Target 2 with 7.50% profit.

Stop Loss : 2%
Profit Target : 3% < 7.50%

2. This trade will be possible if the price breaks downside the triangle and supported by the Minor support then a retest to the trend support but couldn't break it, then we can enter a short position and exit with 6% profit, in this trade the Stop-Loss should be 0.80%

Stop Loss : 0.80%
Profit Target : 6%

👍

24 mar 2020

Nota

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26 mar 2020

Trade chiuso manualmente

Closed when price came near buy price because the pattern became Invalidated