DISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas".
This week I'm keeping my eyes on the Euro / New Zealand Dollar pair. Its been on a down trend for a while now and could be hitting structure from 2015. The channel looking beautiful. At the begging of the month (02/07/2017) the price hit a previous resistance price and bounced.
This past week we hit a bit of a side trend so now we are just waiting for a break. Meaning are we looking at the next new low? Or are we looking for a wave to continue the resistance line.
This week I'm keeping my eyes on the Euro / New Zealand Dollar pair. Its been on a down trend for a while now and could be hitting structure from 2015. The channel looking beautiful. At the begging of the month (02/07/2017) the price hit a previous resistance price and bounced.
This past week we hit a bit of a side trend so now we are just waiting for a break. Meaning are we looking at the next new low? Or are we looking for a wave to continue the resistance line.
Comment:
Ok so there it is, a break out from that flag. Could it hit that resistance line from back in November 2015 and come back down?