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 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .