NZDUSD: Short entry at the fib fest
Hi traders,
On the NZDUSD we can (hopefully) see some fib confluence around the 0.70600 - 0.71000 area, from which I will enter short. We have:
Entry: 0.70663
Stop: 0.71268
Target: 0.68686 = R:RR 3.27
Good luck guys! Updates will follow.
On the NZDUSD we can (hopefully) see some fib confluence around the 0.70600 - 0.71000 area, from which I will enter short. We have:
- Trendline
- 161.8% FIbonacci extension of the last December 2016 move.
- 38.2% Fibonacci retracement of the November - December 2016 move
- 38.2% Fibonacci retracment of the September - December 2016 move
- 50% Fibonacci retracement of the May - September 2016 move
- 38.2% Fibonacci retracement of the January - September move
Entry: 0.70663
Stop: 0.71268
Target: 0.68686 = R:RR 3.27
Good luck guys! Updates will follow.
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