Price might have gone slightly below PRZ, however I see some consolidation on H4 chart
RSI is also showing bullish divergence on daily chart, still at oversold level though
R:R at 1.5 (TP1) and 2.5 (TP2)
I take it that pattern is being retested. Performing multiple time frame analysis can give you a better picture of how price is reacting right now, thus finding better entry and exit points. Although R:R is not bad, pattern is on daily chart, do adjust your lot size according to your risk.
Trade safe.
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Nice rally after the interest rate results. If you had entered around 0.694, trade will be running about 60+ pips profit.
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Trade will be running about 80 pips profit now. It is advisable to shift SL to breakeven for a risk-free trade. For traders who did not know this, going long on NZDUSD yields positive swap daily as well.
Trade is running at about 90+ pips.
Traders may choose to close half of their position, or shift SL to about 50 pips profit and let the trade continue to run.
Hi, appreciate your good analysis. If we look into the weekly chart, the current level is well supported.
Most likely will place a buy tomorrow morning. Thanks
lyl89
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@netpreneur88, you're welcome, do follow me for more trading ideas =)
Traders may choose to close half of their position, or shift SL to about 50 pips profit and let the trade continue to run.