on these charts we have a perfect example of trading harmonic abcd pattern with confirmation.
first of all, on a 4h chart we have a completed abcd pattern, the completion point of the pattern
matches perfectly with the structure looking left.
however, two high momentum bullish candles on 4h chart make me...
Great profits made this morning after last nights spike.
This came after the NZ data showed inflation.
I will start posting more as soon as I place these trades, last nights NZD was just a quick trade with proper risk management.
While a number of technicals point to a bit of an upside trend, this should be limited by short-term resistance followed by a correction back to the long two-year channel that has formed. Daily FX's Nick Cawley called this the trade of the year to short this pair. So far its not panning out. For more, check out www.anthonylaurence.wordpress.com
Oscillators and exponential moving averages suggest a buy. If you're a trend trading, this one is an obvious long. Short when price action meets downward sloping resistance.
Find more of my analysis with more words at www.anthonylaurence.wordpress.com
The NZDUSD is forming a pennant formation on the Daily candles and is pushing towards the top level at 0.6890.
A break above the pennant could see it rise the 0.6930 and then 0.6966.
There is no major fundamental news events coming from NZ this week.
By Andria Pichidi - February 13, 2019
RBNZ held the official cash rate at 1.75%, matching widespread expectations. RBNZ reiterated its pledge to keep the rate at the current level through 2019 and 2020. "The direction of our next OCR move could be up or down", they repeated.
The statement for keeping rates low, for longer than what has been stated so far, along...
Buy idea for NZDUSD. Sorry for posting so late I was caught up. We see a beautiful retrace (which we also caught) after a massive push up. Retraced to the 50% Fibonacci level and made a strong level of support with substantial rejection. After the initial "tap" of the 50%, we see a new high created, followed by a higher low, and then a break of structure. It then...
My first trade idea on here! Welcome. NZDUSD showed HH's and HL's throughout the last couple of weeks. Each push up was followed by a retrace of at least 30-50 pips. Watched the H1 and M30 create a double top at a major level of resistance on the D1 and H4. Waited for a Bearish engulfing on the higher timeframe (H1) and a Break of Structure on the lower (M5-M15)...