NZDUSD: Time at mode downtrend failure and new bullish signal

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Analysis on chart, simple.
We can go long on 50% retracement of today's bar from open to high.
Stop at the open or at the mode below: 0.65762.
Rgmov confirms the trade, it broke out of a long term downtrend trendline and bottomed ahead of price.
Nice CCI divergence and higher momentum than previous peak, implying this rally is sharper than the declines before.
Once we clear 0.67375, this pair can fly.
For now, I'm long using an NZDCAD             pair trade to be safe, since NZDCAD             fired an even larger uptrend signal, and Cad being bounded to crude suffers constantly from its fall.
I couldn't publish it on time, but it looks like a great opportunity now that it's confirmed.
FullTimeProTrader did post a buy, so props to him for the keen eye.
Good luck!
Trade closed: stop reached
NZDUSD is at a nice buy level: 0.66667
Stop at the previous daily open. I'd risk 0.5-1% on it and short if stopped.
stragaw IvanLabrie
Short triggered?
Yes, risking 1% to the stop. Should work well as a countermeasure like the one in gold.
+1 Reply
IvanLabrie IvanLabrie
Holding the short come what may, until stopped.
Working on a couple new trades, will publish shortly.
+1 Reply
IvanLabrie IvanLabrie
Based on these charts:

And my gold analysis, I suspect that nzdusd will come crashing down one last time here. I placed a scale in short now:
Entry at 0.66426 and SL at 0.66791. If it works, it will give an excellent risk/reward ratio, since NZDUSD can fall heavily for a couple days.
+1 Reply

2nd try.
stragaw IvanLabrie
We look forward to next week?
+1 Reply
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