I had already decided to short this pair before realising that this weeks candle closed as a huge doji. (!)
I rode the retracement wave up towards the trendline and the 60fib, and was waiting for a rejection of this area. (yes I do trade NFP)
Both EMA, 60fib, daily res and the trendline are right in this zone and it was rejecting it on the 1H timeframe before it...
We see that the price have some trouble breaking through this level lately, and will probably turn back down.
Even though this daily candle is for me a confirmation of a retrace about to happen, there might be a good idea to look out for a clear break of the 4H consolidation. A 4H or 1H close below 90.400 will be a very good indication of this next downward...
The Sterling crushed the Yen last week with it's inflation news and a hint about an upcoming rate hike, If this consolidation sees a bullish breakout I think we can break 152.000.
And if 152.000 breaks I think we will see 154.000 in near future
After the sterlings huge bullish run last week, I anticipated in a previous analysis it would be aming for the major 1.9000 this week.
And now I think that wave might be up next. I'll wait for the price action to tell me to go long. Who knows, maybe a break of the CTL or poosibly a close above 1.8600 if I have to.
I will be aming at 1.8800-1.8860
From what I can see from the big picture is that EURNZD is looking to retrace back to 1.5500 after what seems to be a rejection of the trendline from the monthly chart.
But that is way too big of a trade for me, so this daily setup might fit me better. I might even consider taking profits around 1.5900
Based on my daily entry strategy I am confident that the price...
I will say this is a high probability trade for the upcoming week.
This past week showed that a reversal might be in sight, and I will take this last weekly, daily and four hour candle closes as a confirmation to that.
I will use the daily candle wick as stop loss at 1.0900 and the fibs as TP's
Tell me what you think.
Have a great weekend everyone!
I just wanted to hear what you think about this strategy and what you can give me as tips or tweaks to perfect it.
A system I have used to get pips every day.
This chart is just an example, but this is all trades I would have taken if I saw them. I will now tell you about the strategy:
After candle close on the 1D chart I am looking to see what the last candle...
GBPNZD just broke a major level after The Sterlings strong news week, and will probably see more upside the coming weeks due to the news about a rate hike coming up in the next couple of months.
After this daily candle close I might go long next week if the candle closes above, if not, I think we will see another candle close above at a later time.
But I feel...
A trendline was broken in the EURO50 index and showed hint of more upwards momentum. I then checked EURUSD on the daily which showed rejection to the 1.8800 level. Then on to the 4H where a trendline is approaching, if this breaks I think we can see the Euro have another go at 1.2000. There's alot of news for the USD today, and I think we can see a small negative...
Tell me what you think! The price just creossed the MA after bouncing up from the trendline, and one or two days more with upwards price action it will also cross the MA on the weekly chart. The Kiwi have been strong lately, but will it last?
Tomorrows interest rate decision on the Swiss Franc is expected to be unchanged, but is rumored to be talked down after SNB chairman repeately stating it's "significantly overvalued" and want the demand to go down.
If the overvalued Franc drops in appreciation I can see it break the weekly if it breaks the neckline of the Head & Shoulders that are forming.