Kiwi gained in Asia after the the big beat in the Q3 employment report .
I have been watching EURNZD , attempting to time a short trade. Firstly I missed the best entry at the right shoulder and have been sitting on my hands watching the (trade that got away) drop ever since. Secondly I had convinced myself that buying into anything Kiwi related was a risky proposition. So… I have come to an agreement with myself to buy a re-test of the neckline up around 1.6855/85
A few speed humps to traverse on the way down in the form of fib clusters (light blue areas) and a previous swing high that could offer some support (yellow area).
Tight stops as always. I will be using the 1.6885 level / 38.2% fib as the area to place my stop loss.
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