NZDUSD Potential Short

٢٦ فبراير ٢٠١٨

After last weeks rally to the downside we are still trending lower it seems. After catching an advanced patter set up, a short bias can be announced. Using Fibonacci retreacements and extensions several criteria has been met. Starting off Measuring the XA we can find the C leg has met the 1.272%. Also a pullback of the B leg has met the .618% so now we must watch as price continues to pull back a bit higher to retest previous resistance. At which point we can bring out the .786% level of the XC leg as it is in confluence with the resistance level where we can look to enter the market. Finding targets is as simple as one two three all we need to do is grab the DC leg pull up the .618% & .382% and set stops above our starting point and Viola we have ourselves a nice set up.