**NZDUSD Short Trading Plan:**
1. **Entry:**
- Sell at upper deviation channel on daily timeframe
- Confirm with rejection candle at upper band
- use smaller time frame like 4h for better entry
2. **Stop Loss:**
- swing high at 0.60343
- or daily close above upper band
3. **Take Profit:**
- Target 1: Mean deviation line (middle of channel)
- Target 2: Lower deviation band (conservative exit)
4. **Confirmations:**
- Overbought RSI at upper band
- Break of support on smaller time frame
- Rejection candlestick formation daily/ weekly
5. **Management:**
- Partial exit at mean reversion (50%)
- Trail stop after price crosses mean line
- Consider adding if price stalls at key resistance levels
1. **Entry:**
- Sell at upper deviation channel on daily timeframe
- Confirm with rejection candle at upper band
- use smaller time frame like 4h for better entry
2. **Stop Loss:**
- swing high at 0.60343
- or daily close above upper band
3. **Take Profit:**
- Target 1: Mean deviation line (middle of channel)
- Target 2: Lower deviation band (conservative exit)
4. **Confirmations:**
- Overbought RSI at upper band
- Break of support on smaller time frame
- Rejection candlestick formation daily/ weekly
5. **Management:**
- Partial exit at mean reversion (50%)
- Trail stop after price crosses mean line
- Consider adding if price stalls at key resistance levels
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.