ForexWeeklyAnalysis
Long

Pending Long NZD/USD in 0.843X/0.839X region

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
228 22 1
Since my sell region of high 0.85XX hasn't been reached yet, there's a possibility to get a long entry on this pullback when price hits the 0.843X/0.839X region.
Target 1: 0.8522 (today's high)
Target 2: high 0.85XX region (weekly downward trend line ), refer to my other analysis on NZD/USD             .
Considering there are multiple trend lines in play, risk is up to your tolerance.

Update: Another potential level is the 0.835X region, which coincides with the 3rd trend line .

Update: At this point, I think it's safe to say that price is already bouncing and the trade is now void? Price is moving up towards Friday's highs as we speak. I only filled 15% of my long position (0.8445) when price hit the first trend line yesterday. Anyone else get a position?
I'm getting ready to start loading shorts soon, so for you bulls out there, set some stops to lock in profits or consider exiting soon. Once I start shorting, I'll be commenting on my Short NZD/USD Analysis chart not this one.
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Looks like price is building a base above 0.844X, look at all those lower wicks...
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ForceFollower ForexWeeklyAnalysis
Yes, a good eye. I may reenter long on some dip.
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ForexWeeklyAnalysis ForceFollower
Be careful about the possible descending triangle though:
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itaskar ForexWeeklyAnalysis
yea, thats why i am not in, in my opinion there will be retest of the daily pennant, it correspond with your lowest trendline
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ForceFollower ForexWeeklyAnalysis
I like those guys in your green box. But I am careful. The stops are in place. :-) And the Aussie sometimes nicely correlates with Kiwi... And it's on our side now.
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ForexWeeklyAnalysis ForexWeeklyAnalysis
For the record, I don't have a position on this pair. I'm focusing more on AUD/USD, I'm just updating this analysis for you guys.
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ForceFollower ForexWeeklyAnalysis
Thanks for your honesty. When you're flat, your judgment is perhaps even more objective than you'd like it to be. :-) I appreciate your comment whether you're in or out.
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Update: At this point, I think it's safe to say that price is already bouncing and the trade is now void? Price is moving up towards Friday's highs as we speak. I only filled 15% of my long position (0.8445) when price hit the first trend line yesterday. Anyone else get a position?
Reply
ForceFollower ForexWeeklyAnalysis
I admit I entered full at the first line and took profit at the alternate high, just below 0.85.
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