FX:NZDUSD   New Zealand Dollar/U.S. Dollar
347 14 5
UP trend at the 4h time frame which reach the resistance level of a down canal at the 1d time frame specially with a nice divergence on the RSI indicator , all this giving us a first signal to SELL NZD against $ , waiting for confirmation by breaking out the UP canal or forming a reversal pattern or even a strong red candle is a good second signal to confirm our sell idea , crazy trader can open since now to profit a good R/R by putting a SL above daily resistance ...
this is what im waiting for :)
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ForceFollower NizarRahalii
A short position favoured. But it go now as high as 0.8328. Possible short entry at that level following some sign of weakness, target at 0.8210-0.8221, SL: 0.8350 or 0.8375 (better). Such a trade would not be in my top rank, but should be OK.
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It was a good idea going short here, at least short-term. :-) Well done!
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NizarRahalii ForceFollower
thank you my friend , now im looking for a nice reversal pattern , like H&S pattern on 4h time frame
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ForceFollower NizarRahalii
It may be a good idea. But I don't think it's done rising. Just at least a little bit higher.
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NizarRahalii ForceFollower
YES ForceFollower , just waiting something like this :)
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ForceFollower NizarRahalii
That's OK, Nizar. The momentum on H4 still favours the rising price action, but it ain't as bullish as before: failed to make a new high, took out the lows to the left, fell below some short MAs and the major low to the left was lower than the prior one of the same magnitude. Cons: hasn't retraced even to 0.382 (a sign of strength), which may also be interpreted as "hasn't done it YET".
Here's some video on that: http://www.fxstreet.com/analysis/intraday-technical-video-alerts/2014/02/19/11/.
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alex.a ForceFollower
double bottom and the second one was lower.... which means it will rise quite high... though ~
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alex.a ForceFollower
agree ~ It has got total rejection. Great ~
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i am curious what will happen here, looks like pennant, if we take closing prices in weekly/daily, the pennant is broken, target then weekly trendline 0,8600 possible.
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