NZDUSD short at supply area
NZDUSD is still far from any big buy orders (gray area on lower chart) and the short term trend (4hr) is distinctly down. Therefore we have a short bias.
We are coming up into a supply area (yellow on 4hr chart) that we didn't quite reach last weak but are probably gonna hit today or tomorrow. Looking very good and with a risk to reward ratio of 1:1, we only need a small reaction in order to hit our profit target.
Remember to trade with the probabilities. No single trade determines our performance, we will all have a loser once in a while.
Take care,
TheSupportResistanceTrader
We are coming up into a supply area (yellow on 4hr chart) that we didn't quite reach last weak but are probably gonna hit today or tomorrow. Looking very good and with a risk to reward ratio of 1:1, we only need a small reaction in order to hit our profit target.
Remember to trade with the probabilities. No single trade determines our performance, we will all have a loser once in a while.
Take care,
TheSupportResistanceTrader
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