Range reversal trade to the downside looking for price to head back down to range lows at 1.8523. Stop at 1.9240. Rate of change (22 days) is starting to turn negative and my bet is that risk on currencies like NZD remain strong especially in pro inflation environments.
We're dealing with a bearish divergence and a resistance level. I'm going short once it completes the triangle (a reversal pattern)
Decent risk/reward play to the upside. Trendline break + rate of change divergence. No opinions on the euro fundamentally but I feel like the CHF is overvalued in a post vaccine world. That opinion means nothing for this trade other than the potential for a move even beyond the high end of the range (rectangle) if the trade ends up working
Reasons- 1) Weekly & daily trend is up as per 200 ema and ichimoku cloud. 2) Inverse head & shoulders decisively changed the market structure from lower low to higher lows and highs. 3) On faster timeframes, price taking support on previous resistance actint as support showing conviction of the market participants. 4) Successful break & restest of trendline on...
Reasons- 1) Monthly, weekly & daily trend is up as per 200 ema and ichimoku cloud. 2) Decisive break of monthly upper trendline. 3) Higher highs and lows on the daily. 4) Previous resistance acting as support showing conviction of the market participants. 5) Small stop and bigger possible targets. Kindly trade at your own risk. Good Luck 😃
This pair broke beautifully out of this setup Next candle retested and succeeded, giving safer entry point Broke to upside hit resistance, like most FX trades do, they swing back and take stops that have been moved to trailing stops Then they accelerate upwards again! Looking for more clean setups right now... If you are in this trade, my take profits would be...
After retracement Look for buy
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Hello traders Just wanted to share a EURNZD short trade that has presented on my charts. NZD strength is bullish and our script has picked that up. I am trading this pair on the M30 chart and have the script set to work on a stop loss and take profit setting on this pair. Trading this pair I have a 1:2 risk reward setup risking 2% capital per trade. So far...