Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
NZDUSD – Structural Channel + Double Top, Looking to Sell | May 10
NZDUSD – Structural Channel in Place, Looking to Sell (daily chart)
After double topping at 7445 in the last few weeks, the Kiwi has sold off a few handles before finding some bulls to give it a lift today. The structural channel is clearly defined and the double top matches the top of the channel.
Hence I’m looking to sell if we can get a corrective move there this week towards the double top. Downside I’d be looking to target 6800 and potentially a move down towards the bottom of the channel around 6500.
Only a daily close above 7125 would negate my ST and MT bearish bias.
Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.