Current interesting action on NzdUsd

Published on Thursday February 9th, 2012 at 05:43AM by Brad

Here is some interesting action on NzdUsd, H1.  Note that trading a sell on NzdUsd is very counter trend.  However, check out how the price has broken out of the lower line.  Then, it went back up and resisted against that line with a shooting star candlestick formation.  Also, the sell entry is not too close to the even number, .8400 above it, so I would probably want to put my stop loss above the even number and above the top of this pattern.  It would be a nice practice trade, but the shear counter trendedness of the trade severely impacts it's probability.  

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