Price Action Lesson: The Basics of How to Read Price Part 2
Hey Guys!
As you guys know the current NZD/USD daily bias is short. Or in other words, price is likely to reach 0.6591 before reaching 0.6731.
So on my last post, I mentioned I took a short entry at 0.6722 with a stop loss at 0.6591 with its main target at 0.6591 for the time being.
In this Price action lesson, I just wanted to briefly explain how I read price in order to take the short entry yesterday. Moreover, why I was able to
take the short position "comfortably" even though price pulled back to 3 pips to the stop loss level.
That's it!
Have a great day guys!
Ken
Disclaimer: This is not Personal Financial Advice.
As you guys know the current NZD/USD daily bias is short. Or in other words, price is likely to reach 0.6591 before reaching 0.6731.
So on my last post, I mentioned I took a short entry at 0.6722 with a stop loss at 0.6591 with its main target at 0.6591 for the time being.
In this Price action lesson, I just wanted to briefly explain how I read price in order to take the short entry yesterday. Moreover, why I was able to
take the short position "comfortably" even though price pulled back to 3 pips to the stop loss level.
That's it!
Have a great day guys!
Ken
Disclaimer: This is not Personal Financial Advice.
Forex Trader/Forex Trading Education/Weekly Forex Forecasts and Midweek Forex Analysis