Short NZDUSD at key range resistance

28 Jun 2017

Short NZDUSD at 50% retracement of June 27 shooting star / pin bar. Reason for trade:

• Price at key range resistance
  
• False break of channel resistance
  
• Shooting star / pin bar price action formation
  
• USD oversold given Fed hawkish tone and NZD overbought given RBNZ dovish tone
  
• Therefore USD at good discounted value
  
• 1:2 Risk/Reward potential
  

29 Jun 2017

Trade aktif

30 Jun 2017

Catatan

Entered short at market 0.73103 on 2017/06/28
Stop loss set at 0.7362 (51.7 pips)
1st Profit Target set at 0.7194 (116 pips)

8 Jul 2017

Catatan

pbs.twimg.com/media/DEKfPc1XkAAg4Vt?format=jpg

Net long NZDUSD futures interest (COT) at 4 year high. Further support of an extreme and possible turn lower.

11 Jul 2017

Catatan

2nd Profit Target set at 0.7145 @32.8% Fib retracement level of May 11 low and June 30 high

13 Jul 2017

Trading ditutup: stop tercapai

1R stop loss hit