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NZDUSD: Short Trade Explained (Trading Plan)



⚠️NZDUSD is approaching a local structure high that was previously reached 12th of November.


the price has violated the support line of a rising wedge pattern once it reached the underline structure

and currently it is trading within a narrow horizontal decision range.


0.6896 - 0.6915 are the boundaries of that range.

an hourly candle close below that will be a strong bearish signal and will most likely trigger a selling reaction.

wait for a confirmed violation and sell aggressively or on a retest.


goals:

0.68715

0.685

0.682


in case of an hourly candle close above the range, the setup will be invalid.

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