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NZDUSD Trading Idea: wait for a pullback and go short

Last week the NZDUSD broke the bottom of the range, since then, the kiwi has been falling like a rock, and I’m getting ready to short it.

Here is my plan:

I’m waiting for a pullback to the main ST resistance level at 0.7760. I plan to hold my trade until the NZDUSD reaches the next LT support level at 0.7500.

Sounds like a good plan to you?

Let me know what you think.

Cheers,

Raul Lopez
Forex Training

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Raul Lopez

I've been trading the markets for more than 12 years. All my trades are based on price action. Check out my Coaching program, I can help you develop a system that helps you trade with better results.