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thesmallerone
Apr 25, 2016 8:20 PM

NZDUSD LONG 4H 4.25.16  Long

New Zealand Dollar/U.S. DollarFXCM

Description

Hello traders, I am back with another trade for all of you. This one I have put quite a little bit of time into and I think I have a fairly good forecast. As you should know nzdusd has been quite bullish for the past little bit. I always try to trade in the direction unless I in no way can. Anyways, according to my trendline, the kiwi is getting ready to shoot back up again. Also, when looking at the stochastic, you can see that there is currently bullish divergence. One more thing that sells the deal for me is that the 200 day moving average is currently below the pair which commonly can act as structure which gives me a good spot to place stops. Don't expect a move all the way up to the next trendline in this leg but I feel that just under the .236 retracement is the best place to take profits. Thanks all!
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