Resistance At Channel High

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
103 5 4
Hi Traders,

So I've been watching this channel form (possible bear flag but that seems unlikely) the past couple of weeks. We have a break & close above strong resistance at 0.6860, but I believe we will break back below subsequently initiating a pullback to the lower end of the channel around 0.6700 due to the daily candle doji close at channel highs.. In which bulls should attempt for a impulsive leg higher above resistance reaching last years support turned resistance at 0.7230. In which we should have a decent short selling trade in place. Until then Long trades seem favored on pullbacks with more risk being to the upside vs. the downside.

Hope you enjoy and find my simple technical analysis helpful. Cheers.
Nice work.... thanks
+1 Reply
Daniel.B suburra
Thanks for the kind words Suburra. Appreciate it! =)
Thanks for sharing. I'm fairly new to trading and I find your technical analysis very useful. p.s. I am also called Daniel B!
+1 Reply
Hey whats up Daniel B the second! haha No problem man, I'm glad to hear that you've found my tech analysis useful thanks for the kind words. The more experienced you become the more you'll find that the simpler your trading the clearer and more effective it will become. Treat this like a business, understand that this is a slow marathon, not a sprint, and you should do fine. =)
DanB Daniel.B
Thanks for the reply and for the tips. I think you're right to say keep it simple. We tend to overcomplicate things unnecessarily in life. It is an interesting learning curve (I've been trading less than 6 months) and I can see with some discipline and strategy, trading can be a profitable business indeed. I'll look forward to your future posts. All the best, Dan.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out