As we can see the price is within a channel therefore based on this we could see the price have an uptick to resistance. This could be a test which fails to break resistance and a head and shoulder pattern would form. Alternativly price may test and uproar moving forwards. I am trading this setup.
This is not financial advicd , please consider your own DD and RM.
As you can see in my previous idea we where wating for a rejection, we got an nice aviation what would be a great moment to entry.
Unfortunately i didnt get the aviation as an entry, but still a nice setup though.
this is not financial advise.
This is a USD index I created. I use these to help gage currency strength when looking for a pair to trade. I have more of a neutral bias for the dollar right now. Waiting to see how price action plays out.
"Don’t blindly follow someone, follow the market and try to hear what it is telling you." - Jaymin Shah
NZDUSD is selling, while USDNZD is buying. RSI is very much below the 30 line markup signaling a uptrend soon. I also use support and resistance to find my entries. If my charts are helping you in anyway even making you profit, show love by commenting or sending a like.
USDNZD current trading patterns are clearly pointing in the direction of a long trade
That is why I am bullsih on the USDNZD pair
And I think it will go up
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USDNZD on the 4h chart is moving inside a descending channel.
The market has now broken above the resistance structure and is trading near to the upper descending trendline.
If the price will break above according to Plancton's strategy we will set a nice long order.
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Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red...