If I could draw your attention to what price did in my circled area Oct 20-Nov 1. We can see that Price was missing its support after the drastic fall and that there was enough Short sentiment to make sure that it got there before taking off again. I believe that we are in the same situation once again. It may retrace up and find its inner resistance first, or it may not. The NZD can fall faster than most as some in history have made millions off of shorting NZD. I would expect sideways/upper movement for the next 24 H (1 Day), until it touches that resistance line, at which time I would recommend short selling with a limit at the weekly (April) Support 75.65 a bouts. Judging from the (circle price action) I would say it would be within 6 days from now to reach your limit.
PS. I don't think its wise to try to call out when this big guy is going to turn North, go with the trend in my opinion, until it betrays you.
PSS. This is my first post. So I'm sorry if its not well done, but I wanted to give you guys the overall picture of how I see it playing out.
If you sell now:
Risk Return 24:90 Pips (1:3)
PS. I don't think its wise to try to call out when this big guy is going to turn North, go with the trend in my opinion, until it betrays you.
PSS. This is my first post. So I'm sorry if its not well done, but I wanted to give you guys the overall picture of how I see it playing out.
If you sell now:
Risk Return 24:90 Pips (1:3)
