Currency pair NZDCHF from Wednesday afternoon moves south as a result of which on the chart H4 moving average 10 crossed the average of 20 from above. Since yesterday afternoon, we see a calm bullish correction, which now arrived in the vicinity of the zone between the average EMA 10/20.
If in the near future the market will reject the current zone between the 10/20 EMA, then I will consider opening short positions with four potential levels of profit (tp).
An additional confirmation supporting the pro-downward scenario may also be present situation on the oscillator MACD which indicates effective downward trend and the fact that this situation is correlated with my yesterday’s position on a pair NZDCAD, which thanks to the implementation of tp1 closed already 2 of 4 positions and the other I secured by BE + 1.
A description of this setup is naturally available in my investment journal.