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!
Bearish Shark Pattern - great R:R ratio.
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: $957
Waiting for next entry as price retests triple top forming at 0.68800 region. Tight stop as won't be monitoring price action **Lazy post during holiday** Trade within you limits
Price testing a zone that was tested back on Dec 31st. Very high probability of decent down move.
FX:NZDUSD Eventual Cypher: Point B: 38.2% to 61.8% XA Point C: 127% to 141% ext XA Point D: 78.6% XC Target: TP1 38.2% CD TP2 61.8% CD Safe Trades;
I am bearish with the Kiwi in the immediate short term. US data looks ok, not solidly good, but not bad either - outlook in US inflation and GDP skewed by oil and cautiousness from overloading on cheap credit. In the opinion that rate will hold at 2.5% with a bearish outlook in the short term. Unless there is a remarkable negative swing in outlook with...
With FX:NZDUSD breaking its consolidation period, I believe we will be going to test a strong structure zone and will be trying to catch it on the way down. RSI divergence supports this idea. With higher highs, high closes, you could be aggressive and ride this one the way up too, until it reaches the structure zone.
NZD/USD has pushed north for the last day and a half but the pair remain in a downtrend whilst .6896 holds so selling at resistance looks worth while. I'm SHORT at .6735 with a STOP above the high at .6753. Target initially is .6558
I have just reentered short on this pair at 0.67502 with SL and TP on chart. Size lot: 1.25k Risk:870$ Reward: 3760 $ Good Luck!
I think the NZDUSD is in a C wave, this is how I expect to see the price action move going forward.
9th Post. FX:NZDUSD Any comments and suggestions are welcome. Let me know if you guys agree or disagree. This is on the 4 hour charts; you can see that a Gartley Pattern have completed and the trade would have been a success hitting both targets 1 and 2 (38.2 and 61.8). Unfortunately, my order didn't hit despite having it on the tick before reversal....
After the previous bull gartley pattern completion and reversal, price moved up and bounced of off a major weekly trendline (purple). The gartley pattern also helped set up a consolidation wedge. This is looking like a set up for another retest of the bottom of the wedge. Projected target 1 and 2 0.6502 and 0.6405 levels.