NZDUSD BEARISH H1 - Sep 5

📢 Signal: SELL NZD/USD 📉

Entry Price: 0.62057 🔍

TP1: 0.61885 🎯 (17 PiP TP)
TP2: 0.61565 🎯 (49 PiP TP)
TP3: 0.61018 🎯 (104 PiP TP)

SL: 0.62187 ⛔️ (13 PiP SL)

💡 Ensure proper risk management when following signals!
💬 Comment:
"After the last bearish movement, the chart hasn't shown signs of reversing the trend, and it seems unlikely to turn bullish. It appears to be more of a pullback, and if this idea holds true, the chart probably won't reach the highest level of this pullback.

Reason for Selling:

Bearish Momentum: The NZD/USD pair has been trending lower, and the bearish sentiment is expected to continue, suggesting a good opportunity to sell.
Resistance Zone: The price is near a resistance level, making this a strategic entry point for a potential downside reversal.

Entry Point Justification:
Entry at 0.62057: Positioned just below the resistance area, allowing you to take advantage of the expected rejection and potential sell-off from this level.

Take Profit Targets:

TP1 (0.61885): A quick target to capture early gains from the initial price drop.
TP2 (0.61565): A more moderate target, aligning with a continuation of the bearish trend.
TP3 (0.61018): Positioned to capture a larger move, aiming to benefit from a deeper retracement if the downtrend accelerates.

Stop Loss Justification:
SL at 0.62187: Set just above the recent resistance to protect against any breakout, while keeping the risk-to-reward ratio favorable."

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