Instrument: NZD/USD
Graphics: D1
Long- and medium-term downtrend correction to 50% of Fibonacci and levels of horizontal resistance.
Price action: The price formed two reversal bar of the level of horizontal resistance and 50% Fibonacci - a negative signal.
Indicators:
Dem (14): Located in overbought zone above 0.7 and rotated - a negative signal
SMA: 50 below the 200 SMA - a negative signal.
It is better to wait for price adjustment upward to position themselves better in the market and increase the coefficient of risk profit.
SL: over the last two vertices and 61.8 Fibo at a price 0.7260
Alternative scenario: If the price remain permanently above 50% Fibonacci destroy the negative trend in the price.
Trainee P_Milanov
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