Breakout Patterns PremiumClosed TradesCompleted Breakout PatternsCurrenciesCurrencies PremiumFX MAJORS Trade Ideas PremiumIntraday Forex SignalsMidterm Forex Signals And SetupNZDUSD Technical AnalysisPremiumTechnical AnalysisTrade SetupsTriangle Pattern

NZDUSD Triangle Breakout And Short Opportunity Update: TP2 Reached

NZDUSD Triangle Breakout And Short Opportunity

Description of the pattern: NZDUSD broke the baseline of the triangle and completed the bearish breakout on H1 Chart. Bearish continuation is predicted. Theoretically, price retests the broken line and continues in the direction of the breakout. Statistically,  with no other factors considered, the probability of the retesting is 78%. We have two entry level. The first one is the market price 0.67400 for aggressive traders. The second one is 0.67590 – estimated retest level-

Time Frame: H1

Trade Period: Intraday /Midterm

Estimated completion time: 2-16 H4 Candle Sticks

The trend in the Timeframe: Bearish

The trend in the Daily Chart: Bearish

Trade Based On Triangle Breakout

The accuracy of the pattern: 89 %

Recommended Lot Size: 0.10 at 10K

Trade: Short

The Area Of The Entry: 0.67590 / 0.67400

Stop Loss: Invalidation level of the pattern 0.67900 + Spread

Target 1: 0.67290 / Reached

Target 2: 0.67140 /Reached

Target 3: 0.66830

Extended Targets: 0.66540 and 0.66200

Note: If the pattern works as predicted and the price makes H4 closing below 0.67100, short positions can be added.

DON’T MISS OUT!! LIMITED TIME OFFER

BASIC PACKAGE MEMBERSHIP 6 MONTHS for $ 219

VERIFIED ACCOUNT AND SETUP RESULTS

CURRENCIES FORECAST   COMMODITIES FORECASTS   PATTERN SETUP    NEWS  SUBSCRIBE

Subscribe to our premium packages if you would like to get 1000+ instruments analysis and trade signals of Chartreadreadepro.

You can contact us via Skype User Name: Chartreaderpro

DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

NZDUSD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

Tags
Show More

Related Articles

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Close