NZDUSD SHORT?
PROS
- Rejection of 0.618 retracement level
- Stoch RSI oversold on monthly, weekly, daily.
- Rejection of horizontal resistance
- Rejection of upward sloping trendline
- Reversal candle pattern
CONS
- Trading against the trend
- Trading toward key EMA's
TARGET
0.68562 - 0.618 retracement from previous swing low to latest high.
This retracement ties in with daily 50EMA
- Rejection of 0.618 retracement level
- Stoch RSI oversold on monthly, weekly, daily.
- Rejection of horizontal resistance
- Rejection of upward sloping trendline
- Reversal candle pattern
CONS
- Trading against the trend
- Trading toward key EMA's
TARGET
0.68562 - 0.618 retracement from previous swing low to latest high.
This retracement ties in with daily 50EMA
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