moorekapital

NZDUSD: HIGHER LOW MAJOR TREND REVERSAL

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
79 0 7
NZDUSD             is in a trading range currently, and seems to have put in a HL MTR             . I'm going long upon a convincing BO of BOL. However, should BO fail, I'd look to short to testing SX, prior to the ultimate BO of TR            


Definitions
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UTL=UpTrendline = A line from the Lowest Low, upward and to the highest minor low point preceding the Highest High so that the line does not pass through prices in between
these two points.
DTL=DownTrendline = A line from the highest high point downward to the lowest minor high point preceding the lowest low so that the line does not pass through prices in between these two high points.
SX/BX =Sell Climax/Buy Climax
BO=Breakout
BOL=Breakout limit (Determined when price seize to make a new high/low in 5 bars since the last high/low following the initial rally/selloff after TL BO)
LH MTR = Lower High Major Trend Reversal = Leg up following the BOL             gets close to BX            
HH MTR=Higher High Major Trend Reversal = Leg up following the BOL             exceeds BX            
LLMTR = Lower Low Major Trend Reversal = Leg down following the BOL             exceeds SX
HL MTR= Higher Low Major Trend Reversal =Legdown following the BOL             only gets close to SX
TR = Trading Range (Tradable legs implied)
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The Logic
1. Trend trading until the weight of evidence tells of the absence of the trend.
2. And to trade the potential legs within the trading range- when price finally breaks the trendline and enters into a tradable trading range- until there's a trading range breakout: continuation or reversal.
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