Buy above 0.7312. Stop loss at 0.7256. Take profit at 0.7436. Reason for the trading strategy (technically): Price continues to test our buying area and ascending channel support. We think that it might be doing a fake breakout now because RSI has not broken below 50% yet. We remain bullish above major support at 0.7312 (Fibonacci retracement, horizontal overlap...
Buy above 0.7312. Stop loss at 0.7256. Take profit at 0.7436. Reason for the trading strategy (technically): Price continues to test our buying area and ascending channel support. We think that it might be doing a fake breakout now because RSI has not broken below 51% yet. We remain bullish above major support at 0.7312 (Fibonacci retracement, horizontal overlap...
Buy above 0.7312. Stop loss at 0.7256. Take profit at 0.7436. Reason for the trading strategy (technically): Price tested our buying area and ascending channel support and had bounced up really nicely as expected. We remain bullish above major support at 0.7312 (Fibonacci retracement, horizontal overlap support, long term ascending support, bullish price action)...
Buy above 0.7312. Stop loss at 0.7256. Take profit at 0.7436. Reason for the trading strategy (technically): Price is testing major support at 0.7312 (Fibonacci retracement, horizontal overlap support, long term ascending support, bullish price action) and a bounce could occur at this level to push price up to at least 0.7436 resistance (major swing high...
Buy above 0.7312. Stop loss at 0.7256. Take profit at 0.7436. Reason for the trading strategy (technically): Price is approaching major support at 0.7312 (Fibonacci retracement, horizontal overlap support, long term ascending support) and a bounce could occur at this level to push price up to at least 0.7436 resistance (major swing high resistance, Fibonacci...
NZDUSD is approaching major support once again at 0.7239 (channel support, 50% Fibonacci retracement, horizontal swing low support) and a bounce could occur at this level pushing price up to at least 0.7328 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is seeing major support above 1.9% where further bullish action could...
NZDUSD is back to testing our major resistance level at 0.7239 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance, bearish divergence, bearish price action) and a strong reaction could occur at this level to push price down to at least 0.7031 support (50% Fibonacci retracement, horizontal pullback support. It is worth noting...
Sell below 0.7188. Stop loss at 0.7280. Take profit at 0.7041. Reason for the trading strategy (technically): Price continues to hover around our selling area and is forming a nice reversal signal with a strong shooting star candlestick formation signalling selling pressure. We are still unable to break through our ascending channel which would be the major...
Pending Short @ 0.7160 Stop Loss @ 0.7260 Target @ 0.6880 RR Ration @ 3.8 Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
NZDUSD is currently the 61.8 Fib retracement on the daily time frame, great opportunity to go short.
Sell below 0.7188. Stop loss at 0.7280. Take profit at 0.7041. Reason for the trading strategy (technically): Price is testing major resistance at 0.7188 (Fibonacci retracement, horizontal overlap resistance, bearish divergence) and a strong reaction could occur at this level to push price down to at least 0.7041 support (Fibonacci retracement, horizontal...
Sell below 0.7188. Stop loss at 0.7280. Take profit at 0.7041. Reason for the trading strategy (technically): Price is testing major resistance at 0.7188 (Fibonacci retracement, horizontal overlap resistance, bearish divergence) and a strong reaction could occur at this level to push price down to at least 0.7041 support (Fibonacci retracement, horizontal...
Buy above 0.7041. Stop loss at 0.6946. Take profit at 0.7197. Reason for the trading strategy (technically): Price is testing channel support and it might make a fake bearish breakout because we see major support at 0.7041 (Fibonacci retracement, Fibonacci extension, horizontal pullback support). We remain bullish above this level for a push up to at least...
Buy above 0.7035. Stop loss at 0.6946. Take profit at 0.7196. Reason for the trading strategy (technically): Price is in an ascending channel and we look to buy on dips above 0.7035 support (Fibonacci retracement, horizontal pullback support, bullish channel) for a push up to at least 0.7197 resistance (Fibonacci extension, horizontal swing high resistance). RSI...
Sell below 0.7055. Stop loss at 0.7181. Take profit at 0.6822. Reason for the trading strategy (technically): Price is now starting to test major resistance at 0.7055 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction off this level to push price down to at least 0.6822 support (Fibonacci extension, horizontal swing low...
Sell below 0.7055. Stop loss at 0.7181. Take profit at 0.6822. Reason for the trading strategy (technically): Price is starting to test major resistance at 0.7055 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction off this level to push price down to at least 0.6822 support (Fibonacci extension, horizontal swing low...
Sell below 0.8055. Stop loss at 0.7181. Take profit at 0.6822. Reason for the trading strategy (technically): Price has broken a recent key support level that it has been testing since 13th December, triggering a strong bearish drop from here. We remain bearish looking to sell on strength below major resistance at 0.7055 (Fibonacci retracement, horizontal...