Here on the NZDUSD we have been in a downtrend lately, looking for a minor pullback to hop on a trend continuation - We got this Cypher pattern setting up with price retracing up near our PRZ at 0,67708
Kind Regards
Thomas Jeff
A perfect trade, with a head and shoulders pattern in play. Expect a deeper re-tracement after reaching Target 1. Good luck.
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Risk:Reward = 1:5 & 1:8
After breaking down out of its upwards channel, the NZDUSD has retraced up to a level that contains multiple resistances (the upwards trend line, moving averages, fibonacci levels). Here's where we'll keep a close eye on lower time frame bearish price action (lower highs, wicks etc) to give us confirmation of going short.
Morning chaps....
Long term view on nzdusd moving forward, if this channel and .236 fib is broken earlier than expected, no-brainer to be short till .62636
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Short now, SL at 0.7060 and TP at 0.6950.
Good risk : reward. Fairly aggressive trade.
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After a powerful bullish trend the FX:NZDUSD shows a nice indecision candle on top of a resistance area.
From the price action point of view this usually means that the bullish power might be transitioning to the bearish side. What do i do?
I executed a pending order below the low of the indecision candle to go short. As always i keep my Risk/Reward a 1:2 ...
Update to previous chart. I reentered at top of the channel 0.69171 after my previous sl was hit. New sl on chart is 0.69503. Tp remains the same at 0.65685
Good luck!
Entered short at top of the channel, SL on chart. I personally see this pair heading down and breaking the channel downwards towards my green area on chart at least. RSI on 4 hr is very overbought.
Size lot: 0.35
Risk: $163
Reward: $957
Waiting for next entry as price retests triple top forming at 0.68800 region.
Tight stop as won't be monitoring price action
**Lazy post during holiday**
Trade within you limits
