Taking an eye on the charts , you can see we are short since the beginning of the week. Price triggered us at the weekly resistance (blue line ) and moved up higher . Our strategy with stops is simple dynamic with space to move. So the Kiwi didnt catch us on this move and changed its direction in our favor. Now it is sitting on the drawing trendline. (with EMA 17,20&50 Support)
We expect now a little bit more bullish movement to the daily resistance (red line) (also the retest of the sudden big bearish candle) before the pair goes even lower. You can use the red line for a good entry of shorts. if you want to go a bit safer , wait for a clear break of the trendline and go short at the retest.
Entry : 75.670
SL : 60 Pips
TP : 160 Pips
Volume : 70%
We expect now a little bit more bullish movement to the daily resistance (red line) (also the retest of the sudden big bearish candle) before the pair goes even lower. You can use the red line for a good entry of shorts. if you want to go a bit safer , wait for a clear break of the trendline and go short at the retest.
Entry : 75.670
SL : 60 Pips
TP : 160 Pips
Volume : 70%