As we know, NZDUSD is overwhelmingly bearish. This looks like a good opportunity for both pattern traders, and the trend continuation crowd. We all know the risks inherent into blindly trading butterflies, as you are essentially buying or selling a break of structure. However this time looking left, we see some minor structure levels if we are to expand our...
SL@0.6733 TP1@0.6579 IF BRAK 0.6650 NO 0.6600 !!!
Here we got the infamous Cypher pattern with strong trend, with our entry lining up with trendline resistance confluence and we just need the RSI to climb to oversold and we are buying like there is no day tomorrow. Its officially the end of the month i will share our stats for the month of June later today so stay tuned! Its been a wild ride, but controled ride,...
Here we got a yet another Gartley pattern with a little bit better Risk : Reward than the previous one. The stop placement is kind of a compromise, it should actually be above the las structure high, where i got the circle but it will make an inverted risk reward to target 1. So let´s hope the Greek nightmare decissions will not kill us on this Kiwi trade in the...
Gorgeous short. Hit the .38 retracement from the last move down which is also previous support now resistance. Moreover , the downtrend line was there as well. Congrats to those who took it.
Here we got a trend continuation trade with a Cypher pattern as our entry, RSI is going oversold soon if the retracement keeps moving higher up into our sell area. If you have been following me and have followed our track record of now 631 pips since the first of June and 11 winners in a row last week, and you are a pattern trader yourself. I would like to make...
Here we got a Bearish bat pattern with strong trend, if we get a retracement to out entry it should be a very rewarding trade. So keep an eye out for price action and the RSI to become overbought. Hope all you that check out my ideas followed the ramp we were on last week with 8 winning trades and zero loosers and 530 pip profit in the bank. I´m interested in...
NZDUSD is testing March 2011 levels (.7108). Sentiment positioning shows +3.88 as nearly 4x as many traders are already long the pair vs shorts. When used as a contrarian signal, that means we have a future supply of sellers who would need to close their long position should this move materially lower. This appears to have room to run as well should a...
1. AB should be 382 or 500 retracement of XA 2. BC can be either 382 or 886 retracement of AB 3. CD should be 886 retracement of XA Why I'm trading this pattern? You can look at the previous support and resistance on the daily chart
The currency pair broke through the resistance level of 0.7420 and reached a strong resistance level at 0.7550, which was slightly exceeded. An attempt to break through this resistance should not go. The increases were initiated by the occurrence of Governor of the Bank of New Zealand, who hinted that the probability of interest rate hikes in June. An additional...
After a strong pullback to 0.75 area I entered again a short position based on my previous trade setup and position. From fundamentals point: New Zealand labour force participation rate reached an all-time high of 69.6% and New Zealand Retail Sales YoY up 7.4%
Are we seeing support becoming resistance with NZD, continuing falls in the commodity price has to put pressure on the NZD and push it down to a more realistic value around 0.72. Selling at the 0.75 level may not be a bad option, aiming for the resistance level of 0.725 seen in March.
PRICE HAS FORMED MY FAVOURITE 3 BAR SETUP. THIS IS A VERY BEARISH SENTIMENT. THOSE WHO FOLLOWED ME SHOULD ROUGHLY KNOW WHAT THIS SETUP IS LIKE AND HOW RELIABLE IT CAN BE. A FAKEY OF THE INSIDE BAR W1. THIS IS A VERSION OF BULL TRAP. SELL AT STRENGTH FOR BETTER RISK REWARD. SEE D1 FOR PRICE ACTION. TRADE INVALIDATED IF PRICE MANAGES TO GO ABOVE 0.774.
Trading idea on 1h chart : Short NZDUSD – test of breakout to downside level ________ Trading idea: limit sell order at 0.7540, Risk-Reward = 6.67 SL@ 0.7555 (-15), TP@ 0.7440 (+100) ________ NZDUSD: - downtrend on 4h and 1h chart - retest of breakout level at 0.7540-0.7550 - next move should be lower to 0.7484 (Target1) or more probably to 0.7440 (final...
A DOUBLE TOP HAS BEEN FORMED. I'M LOOKING FOR A QUICK RETRACEMENT TILL 50% OF LAST UPWARD
Buying pressure looks to be running out so I'm pretty sure a short here could work. Would only long if it breaks all three levels