The trend has been a great friend for this one this week. That being said, this area could be a legit spot for a drop... but it is an uptrend so I will more than likely use a smaller time frame if I short. I put an arrow towards a similar area where there was a nice congestion before a drop. I have no crystal ball. Price could drop like a stone due to some...
This pattern is all over the place right now especially with NZD and AUSD.
We just got a a nice reaction at the diagonal. Provided there is another push, we have a few reaction points up ahead.
I left my pullback arrows there from earlier this week just as a reminder of the strength of the drive down. Sometimes price retests but the fundamental news regarding NZ was very significant and the market is showing it. That being said I am putting a reaction point to the long side. Note that i am not putting it at the diagonal as many pros will get out of...
Here are a couple of resistance levels that are just about to be revisited. Again, price could reverse there OR could spike through it one day and wick down the next day OR fly through that level as if it was not even there. Trade accordingly. Long looks good for now but those would be my spots for a short.
I am waiting to see what happens if and when price reached the yellow circle area and the diagonal.
Got out of my first long earlier today. I did not get the full 46 pips long reaction but I got some on a relatively small position. If you get the right area you can often get a nice reaction for a day trade. I have a second level down for another reaction. Again those spots can be a sliced through as if they don't exist OR they can be a one candle reversal...
I took my long out earlier tonight. I might miss a bit of upside but my gains were starting to melt a lil' too much. I am neutral right now. I just wanted to point out a few other examples when there was a SOLID drop just short of the pivots above. We never know. Sometime it is good to be hardcore while dictating to the market where we want it to go to get our...
Looks like this one is at a key area for a pop or a drop but if I have to choose I will go for a long.
This could be an area where price might stop going down. Not talking about the mother of all reversals but a break in the drop in that area/zone with a push to the upside. I am in on the NZD USD which has a similar pattern. However I took a limited size position.
I will be ready for this trade. We might later have a push down towards the diagonal. However I usually do not wait for price to reach those idealistic target... I do miss some $$$ as they often do but I have a different game plan. Depending on the pair, I prefer to collect when there is an 80-120 pips though I will wait longer if I have a smaller position...
There is still a possibility that the green bar currently extending above the diagonal as I write this might turn into a wick before price heads back down. Other than that, 2 areas where we can expect some profit talking and either a reversal or some consolidation before another push to the upside.
We got our dumper guys. I was lucky on this one. I got in at the black line before diner and Boom. I will stay in a bit longer. I am making a similar post with GBPJPY. Potential dumper as well.