USDNZD Triangular Contraction [Short]

Waiting for breakout on (Triangular Contraction)

Downtrend
+ reached market sentiment at 1.4505 (no buyers at this area/ allot of sellers in this area)
+ Strong Breakout (74pips) on Lower Low at 1.447
+ Support level change to new resistance level
+ Consolidation Stage (triangular contraction) where price action moves near support level slope

Short
1. If price action respects new resistance level
2. If price action breaks triangular contraction support level.

Stop Loss @ 1.4474

Commento:

I should have placed my stop loss @ top of consolidation stage @ 1.4507 in order to stay in my position.

Trade chiuso: obiettivo raggiunto