Friday, October 26, 2012

NZDUSD Gramophone Pattern Short Trade NZDUSD Short Trade
Pair NZDUSD is making out a gramophone pattern on H1 chart.

Pretty much looks like a range based play. With 200EMA & 100EMA with just broken, I favor a down move towards the lower horizontal resistance. 

I would like to go short on a bounce to upper resistance area. That area also coincides with 100EMA & 200EMA. I will short around 0.8185/90 for a possible move towards lower horizontal area. But today being Friday and US GDP release later, I will keep size small. 


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