I see a great opportunity to go short on FX:NZDUSD . We have a very nice triangle pattern with very interesting key confluences:
1. Price has tested the triangle resistance once more
2. Fibs 78.6-88.6 (little one)
3. Fibs 61.8 (big one)
4. Nice shooting star candle.
Our targets are:
1. Next triangle support level
2. Nearest structure support 0.6290
3. Fibs...
Good Monday traders.
Here is the first setup of the week. We have a pure structure based shorting setup on FX:NZDUSD . The market is moving in the wedge currently and I am waiting the price to enter the Red Zone and fall all the way down.
The reversal zone is between the structure resist and the fibs 61.8 with the confluence of look left structure. We should wait...
So, here on FX:NZDUSD there is a very good trend following opportunity that should be monitored during the next trading week.
I am looking the market to do the following moves:
As we are in a bear market right now I look for the retest structure, price should enter the reversal zone and then fall down. As you see we have fibs confluence of 38.2 right at the...
If the price fail's to break the previous High (blue horizontal line) it should get point D.
There's a previous Support Level, now Resistance and its a little above the 127% extension from A to B (point D from Gartley target);
IF we get there, THEN i'm a Bear!!
Targets on chart;
As we know, NZDUSD is overwhelmingly bearish. This looks like a good opportunity for both pattern traders, and the trend continuation crowd.
We all know the risks inherent into blindly trading butterflies, as you are essentially buying or selling a break of structure. However this time looking left, we see some minor structure levels if we are to expand our...
Here we got a yet another Gartley pattern with a little bit better Risk : Reward than the previous one. The stop placement is kind of a compromise, it should actually be above the las structure high, where i got the circle but it will make an inverted risk reward to target 1.
So let´s hope the Greek nightmare decissions will not kill us on this Kiwi trade in the...
Here we got a trend continuation trade with a Cypher pattern as our entry, RSI is going oversold soon if the retracement keeps moving higher up into our sell area.
If you have been following me and have followed our track record of now 631 pips since the first of June and 11 winners in a row last week, and you are a pattern trader yourself. I would like to make...
Here we got a Bearish bat pattern with strong trend, if we get a retracement to out entry it should be a very rewarding trade. So keep an eye out for price action and the RSI to become overbought.
Hope all you that check out my ideas followed the ramp we were on last week with 8 winning trades and zero loosers and 530 pip profit in the bank. I´m interested in...
NZDUSD is testing March 2011 levels (.7108).
Sentiment positioning shows +3.88 as nearly 4x as many traders are already long the pair vs shorts. When used as a contrarian signal, that means we have a future supply of sellers who would need to close their long position should this move materially lower.
This appears to have room to run as well should a...
The currency pair broke through the resistance level of 0.7420 and reached a strong resistance level at 0.7550, which was slightly exceeded. An attempt to break through this resistance should not go. The increases were initiated by the occurrence of Governor of the Bank of New Zealand, who hinted that the probability of interest rate hikes in June. An additional...
PRICE HAS FORMED MY FAVOURITE 3 BAR SETUP. THIS IS A VERY BEARISH SENTIMENT.
THOSE WHO FOLLOWED ME SHOULD ROUGHLY KNOW WHAT THIS SETUP IS LIKE AND HOW RELIABLE IT CAN BE.
A FAKEY OF THE INSIDE BAR W1. THIS IS A VERSION OF BULL TRAP.
SELL AT STRENGTH FOR BETTER RISK REWARD. SEE D1 FOR PRICE ACTION.
TRADE INVALIDATED IF PRICE MANAGES TO GO ABOVE 0.774.
Trading idea on 1h chart :
Short NZDUSD – test of breakout to downside level
________
Trading idea: limit sell order at 0.7540, Risk-Reward = 6.67
SL@ 0.7555 (-15), TP@ 0.7440 (+100)
________
NZDUSD:
- downtrend on 4h and 1h chart
- retest of breakout level at 0.7540-0.7550
- next move should be lower to 0.7484 (Target1) or more probably to 0.7440 (final...
Failure of the Kiwi to retake above the 0.7700 level keeps the Bearish tone alive and well. A break this week below the T-Line from the 0.7191 low is likely going to see the pair retest the bottom of its range at 0.7191. Only above 0.7700 puts the Bulls in the driving seat.
Friday saw the pair challenge T-Line Resistance and 78.6% Fib of smaller degree swing and got HEAVILY rejected thus forming a Key outside bar reversal on the daily chart. This is a ominous bearish sign. Aggressive traders have every justification to initiate short positions with a great R/R ratio. More conservative traders can wait for a successful break below...
In my last published chart of NZDUSD under the title "Could Kiwi Run or Fly" almost 3 months a go, what appeared to potential falling wedge in fact turned out to be a connector wave X and which broke down with price accelerating to the downside and USD gathering momentum to the upside.
In that post further weakness was not ruled out as at least a retracement...
We are in a clear down trend and have a nice pull back to a previously established support level now acting as a resistance level. We are also in between Fibonacci retracement levels of 50% and 61.8% We also have reversal candlesticks forming, clear pin bars. Also at the 50 SMA. All these factors have contributed to us shorting this pair. The stop loss is slightly...
