The Med-term direction is suggesting lower levels, though we are seeing some good two way trading opportunities for intraday traders .

We can see by the chart below that downside is still favorable, yet it is not all one way traffic .

NZDUSD-H1

A zoomed in view below shows the fight taking place at recent levels. My short trade posted earlier this week (red arrow) performed well and I got another bite of the cherry with a rinse – repeat trade close to the 38.2% (magenta line) of the October lows – November highs. The level to beat near term for further downside is the 78.6 of the same swing .

(Being challenged again as I write ).

 

NZDUSD-H1

Horatio Dubsly

Collects more scalps than Crazy Horse and newly crowned Bitcoin & Dow top calling master.
Philosophy: "Trading rules.....it most certainly does"

Read how Horatio got into trading here
Horatio Dubsly

Pin It on Pinterest