Here's the chart of the trade that we went over in today's Forex market Preview video. If you didn't see it, make sure you get over to youtube & do so, but what we're looking at is a double 2618 opportunity.
The bigger potential 2618 is located on the daily timeframe while the smaller one exist on the 4 hour. ...
USDMXN will show an opportunity to buy after ABCD bearish pattern completion.
21.39955 is matching the D point and one support that previously was a strong resistance.
Long at 21.39.
- TP1: 21.61956
- TP2: 21.83723
SL below 21.3
I apologize for the sloppy chart but this was the trade that I recently discussed in my Forex market Preview video & didn't want to erase anything just yet. (Link to my youtube page is in the "signature" box below)
But essentially there are two potential trading opportunities that I have my eyes on for this pair. ...
We can observe a big divergence in the MACD indicator, wait for the price to break out the upper trend line, wait for the respective pullback and then according to your strategy for this kind of setup, proceed to buy.
As expected after falling back inside the familiar range the rate pulled back to test the upper boundary and turned around right on the spot at 1.4470. (watch the video on full trade idea here)
As I have closed a part of my initial position and my stop's at break even - I will be looking to scale back ...
Nzdusd has rejected from 200 EMA on H4 time frame. This zone will be strong resistance for this pair in future. Now this pair is staying below near term resistance at 0.6970. Below this level, we can look for sell and target will be 0.6900 area as pointed on the chart.