Just ideas I would like to share
- NZDUSD
1. Weekly timeframe - Descending Channel long for a third touch (short position) on the support trendline before moving to the upside (long position)
2. Daily timeframe - Pattern within a pattern (rising wedge) looking for a breakthrough (short position)
3. 4 hour timeframe - Another pattern within a pattern (rising wedge) looking to short and then breakthrough the wedge found on the daily timeframe (short position)
4. 1 hour time frame - Same as above nothing significant.
I will place a sell stop at 0.60245
Stop loss @ 0,61204
Take Profit 1 @ 0,58781
Take Profit 2 @ 0,54344
*the above is a the probable but the market is not perfect and could reverse to breakout of the weekly descending channel*
Set an alert @ 0,69057 on TradingView and if price breaks that area go long
1. Weekly timeframe - Descending Channel long for a third touch (short position) on the support trendline before moving to the upside (long position)
I will place a sell stop at 0.60245
Stop loss @ 0,61204
Take Profit 1 @ 0,58781
Take Profit 2 @ 0,54344
*the above is a the probable but the market is not perfect and could reverse to breakout of the weekly descending channel*
Set an alert @ 0,69057 on TradingView and if price breaks that area go long