We can see that this pair approached a big resistance area and is a good place to take a short trade. The RSI is also overbought and I put the SL 30 pips above the high of the wig and the risk:rewar ratio is just insane on this one, so I am very comfortable to take this trade now before waiting for confirmation. You can wait for a break of the channel that I drew just for confirmation to take the trade. If it breaks to the upside it can go as far as the 1.8000 level.
Have a nice trading day :)
Сделка закрыта: достигнута стоп-лосс цена
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Now I am looking for a pullback to go long in this pair
@marck023, I think it will go and touch the 1.272 fibonacci extension before it makes a pullback around the green box areas, before it continues to go up again. So, I was stopped out of my position as you can see in the original post, but it only gives me the signal that the market tends to keep moving farther away
tkrivickas
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really waiting for short at this moment :) Today not god NZD news, tomorrow Draghi speech. Hope it will go down :)
mrrosstrader
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@tkrivickas, Yes, indeed. That is why I decided to take this position right away :) Hope we get some pips here!