This is a summary of the trade opportunities during this week according to my Trade Rules:
1- Momentum
2- HTF close with momentum direction
3- 1H close above / below previous candle in momentum direction
4- Targets for TP points from Week Trade Plan
EURNZD
Jan Week 4 - 8
- With last week failure to sustain the bullish momentum above the 1.7180 and rejection confirmation at 1.7220, EURNZD ended last week bearish at Support zone at 1.6950/80.
- EURNZD started this week with retracement to the next resistance zone 1.7080/1.7100 (Expected as per the weekly trade plan posted) and rejection confirmed at the zone for bearish continuation and retest of the support zone at 1.6950/80 TP1 and break to test 1.6880 TP2 and 1.6780 TP3.
- The COT report and Seasonality of NZD currency supported the bearish momentum to reach TP2 and treated any rise as opportunity for Shorts.
- Highlighted 3 opportunities for Short according to my rule of having Momentum and 1H close in my direction and as per my Weekly Plan.
- Check 4H TF you will find that 4H candle close is Bearish and closing below previous candle.
Weekly plan:
Jan 5 Update:
Jan 6 Update:
Jan 8 Update:
1- Momentum
2- HTF close with momentum direction
3- 1H close above / below previous candle in momentum direction
4- Targets for TP points from Week Trade Plan
EURNZDJan Week 4 - 8
- Previous momentum: Bearish
Week Close: Bearish
Range: 284 pip
- With last week failure to sustain the bullish momentum above the 1.7180 and rejection confirmation at 1.7220, EURNZD ended last week bearish at Support zone at 1.6950/80.
- EURNZD started this week with retracement to the next resistance zone 1.7080/1.7100 (Expected as per the weekly trade plan posted) and rejection confirmed at the zone for bearish continuation and retest of the support zone at 1.6950/80 TP1 and break to test 1.6880 TP2 and 1.6780 TP3.
- The COT report and Seasonality of NZD currency supported the bearish momentum to reach TP2 and treated any rise as opportunity for Shorts.
- Highlighted 3 opportunities for Short according to my rule of having Momentum and 1H close in my direction and as per my Weekly Plan.
- Check 4H TF you will find that 4H candle close is Bearish and closing below previous candle.
Weekly plan:
Jan 5 Update:
Jan 6 Update:
Jan 8 Update:
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.