EURNZD - 11-16 Jan Week trade opportunities for reference
This is a summary of the trade opportunities during this week according to my Trade Rules:
E
1- Momentum
2- HTF close with momentum direction
3- 1H close above / below previous candle in momentum direction
4- Targets for TP points from Week Trade Plan FX:EURNZD
- Jan week 11 - 16
- Previous momentum: Bearish
- Week Close: Bullish
- Range: 171 pip
-A Ranging week for EURNZD between 1.6980 and 1.6880/50 solid levels after the rejection at 1.7100/20 resistance zone.
- The main factor this week was the 2:00pm UK time 4H candle, it showed how market repeats the same behavior at specific times.
- The COT report showing that 70% of institutional positions are Long NZD which is the highest since 3 years compared to 30% Short positions. This is translated on the chart with EURNZD sustaining it's bearish trend and we are seeing support levels broken every week.
- Seasonality showing that EURNZD should be strong during the first 2 weeks of Jan which had happened during the last 2 weeks and the highest to reach this month and weakness should be the theme for the remining of Jan.
- Highlighted 3 opportunities for Short according to my rule of having Momentum and 1H close in my direction, but not according to my trade plan as the nothing triggered to Short or Long.
- Check 4H TF you will find that 4H candle close is Bearish and closing below previous candle.
E
1- Momentum
2- HTF close with momentum direction
3- 1H close above / below previous candle in momentum direction
4- Targets for TP points from Week Trade Plan FX:EURNZD
- Jan week 11 - 16
- Previous momentum: Bearish
- Week Close: Bullish
- Range: 171 pip
-A Ranging week for EURNZD between 1.6980 and 1.6880/50 solid levels after the rejection at 1.7100/20 resistance zone.
- The main factor this week was the 2:00pm UK time 4H candle, it showed how market repeats the same behavior at specific times.
- The COT report showing that 70% of institutional positions are Long NZD which is the highest since 3 years compared to 30% Short positions. This is translated on the chart with EURNZD sustaining it's bearish trend and we are seeing support levels broken every week.
- Seasonality showing that EURNZD should be strong during the first 2 weeks of Jan which had happened during the last 2 weeks and the highest to reach this month and weakness should be the theme for the remining of Jan.
- Highlighted 3 opportunities for Short according to my rule of having Momentum and 1H close in my direction, but not according to my trade plan as the nothing triggered to Short or Long.
- Check 4H TF you will find that 4H candle close is Bearish and closing below previous candle.
