Note -NZDUSD showing signs of reversal after intraday rejection of higher price (long daily wick) by forming a reversal candlestick pattern (Pinbar/Spinning top/Indecision) AT RESISTANCE -NZDUSD formed a double top on 4H with confluence of a daily resistance level -NZDUSD showing bearish divergence on 4H time frame -Stochastic overbought at resistance
Entry -Keep enough distance below the low of the reversal daily candle to confirm a transition of power from bulls to bears
Stop -Above the high of the daily reversal candle
Target -2 times stop
Risk Management -Risk 1% to 2% of capital -Ratio: 2:1