Trade Idea on NZDUSD + Full Explanation by ThinkingAntsOk
Use this as a guide to develop your own setup
Main items we see on the 4hs Chart:
a)Price is on the lower trendline of the Descending Channel ( Dynamic Support)
b)on the last Bearish Movement we can see a Big Divergence on MACD Histogram + a decrease on the Bearish momentum (Trendlines start developing a positive Slope)
c)On the Weekly and Daily charts, we observe Major support zones, that give strength to the Bullish Thesis
d)Currently, we saw a breakout of the last descending channel, and now we are waiting a retest of the channel on a 1h timeframe to set our orders
e)If that happens we will use the same parameters you can see on the chart
f)Remember protect your capital and minimize your stops between 1%-2% of your account
Daily Chart:
Weekly Chart:
Main items we see on the 4hs Chart:
a)Price is on the lower trendline of the Descending Channel ( Dynamic Support)
b)on the last Bearish Movement we can see a Big Divergence on MACD Histogram + a decrease on the Bearish momentum (Trendlines start developing a positive Slope)
c)On the Weekly and Daily charts, we observe Major support zones, that give strength to the Bullish Thesis
d)Currently, we saw a breakout of the last descending channel, and now we are waiting a retest of the channel on a 1h timeframe to set our orders
e)If that happens we will use the same parameters you can see on the chart
f)Remember protect your capital and minimize your stops between 1%-2% of your account
Daily Chart:
Weekly Chart:
