NZDUSD 05 May 2021 Short Trade -1.0R Loss

REASONS FOR TRADE:

Daily chart: 10-day MA was angling down. on 04 May 2021.

4hr chart: Testing resistance zone with the stochastic %K at overbought level.

See NZDUSD Daily and 4hr charts below.

NZDUSD Daily and 4hr charts

ENTRY:

Entered short on 05 May 2021 21.55hr at 0.72051 when NZDUSD was testing its resistance zone and stochastic %K at overbought level.

EXIT:

The resistance zone did not hold and hit my stop at 0.72251 on 06 May 2021 09.24hr.

The trade setup did not work out and resulted in a -1.0R.

Disclaimer:

Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.