NZDUSD big reversal inbound? (weekly) Long

New Zealand Dollar/U.S. DollarFXCM

Description

⋅ Oct 27, 2014 11:42 PM

NZDUSD looks like it is setting up for a big trend reversal with 250-615 pips target.

Everything should be clear from the chart, if you have questions/suggestions please do comment!

Regards, Doge

USD (US Dollar)LONG

Comments

dionvuletich

⋅ Oct 29, 2014 4:35 AM

hope so, I'm long...! weekly cypher pattern, 1st target 0.8050 2nd target ~0.83

DogeBuffet

⋅ Oct 29, 2014 10:06 AM

So am I! Should be a good trade.

DogeBuffet

⋅ Oct 29, 2014 8:08 PM

Got stopped out with small profit! I hope you did okay as well?

dionvuletich

⋅ Oct 29, 2014 8:46 PM

Still in it, I don't move my stop till the first target is hit so see how we go

DogeBuffet

⋅ Oct 29, 2014 9:08 PM

Okay, I'll rebuy lower now most likely.

IvanLabrie

⋅ Oct 29, 2014 9:44 PM

I'm waiting for a reason to go short, right now we're in the middle of a complex correction. Surprisingly the FOMC meeting only caused price to head back down to support.

dionvuletich

⋅ Oct 29, 2014 9:56 PM

thats just my rules and how I do it, I am not particularly fond of Cyphers, from my testing they are only 55% accurate based on my entry/ exit rules with an average R:R of 1.46 - Expectancy 0.36, there are better patterns out there imo

IvanLabrie

⋅ Oct 29, 2014 10:28 PM

As long as your reward's higher than risk, you'll be fine :D Feel like I'm invading Doge's chart haha (he's a friend of mine, and a great price action trader)