EilderJorgeGarcia
Short

NZD USD short breaking support

OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
Price broke support, NZD index is falling while DXY             is rising, strong trend forming, RSI is falling and moving averages align...

I would take profit near the 0.7 level because it being a round number will slow momentum and maybe cause a retracement, stop loss a few pips above the high of today.
Hello,
I have been observing your call on the NZDUSD. What EA and indicators are you using ?
Jim Posey
jpx2@comcast.net
Reply
@jposeyx2, I'm a free user so I cannot add to the chart everything I use at the same time. Cyclop Sight is my main indicator, it's an EA I made based on some books I've read and experience, as well as my knowledge on software development and artificial intelligence, at it's core it's a recommendation system based on a commission of experts of sorts, it uses some of the basics of Artificial Intelligence to give me 4 numbers between each expert, I add these numbers and end up with the indicator you see below the main chart. The indicator gave me a sell signal on april 19, as seen on the chart, I sold that day but didn't post the idea until it broke resistance, the reason is that while the NZD was losing ground the rally on the dollar hadn't started yet and I didn't want to give others a somewhat riskier idea. Bollinger bands help a bit to determine volatility and channel size and I also check if the ADX is effectively rising (I don't wait for the ADX to go above 25, but I do check that it's increasing). The other major indicator I use isn't in the chart because it clutters sight a bit; it's another custom indicator for checking support and resistance using channel size and ATR for determining areas of high volatility where slowing of momentum or retracements might occur. RSI, Alma, golden cross, as well as others are included in the expert system inside Cyclop Sight.
Reply
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