Good afternoon traders! A trading idea for the NZD / USD pair.
As part of the general short-term trend, a false breakout occurred yesterday, in which the quotes closed even lower in the market. Open short positions and follow the trading idea below:
The target is to short the pair to the level of 0.63750, which is the weekly stops of buyers. The profitability of such a transaction (from the current prices) is 3:1.
This trading idea is based on the “Price Action” and “Stop Hunting” strategies.
The material has been provided by InstaForex Company – www.instaforex.com