Longer-Term Upside Potential
Updated
Note(s):
As we know, many traders are actively looking out for the great Long opportunity in EURAUD pair as of now; but in my opinion, a Long opportunity in EURNZD could have even more potential; due to the fact that the AUDNZD pair could be in for a longer-term reversal (to the upside) pretty soon (which means...)...
Here EURNZD is a pair which I will only be strictly eyeing for (Long opportunities/signals only).
Other pairs in my "hot-list" currently:
NZDCAD 0.21% (Short)
GBPNZD -0.34% (Long)
GBPUSD 0.06% (Long)
USDMXN 0.49% (Short)
EURMXN 0.39% (Short)
EURNZD -0.44% (Long)
AUDNZD 0.21% (Long)
*For each of the above pairs; I will be looking out strictly either for the Long or Short opportunities only (in the 5mins chart; I will get in once I received a signal & then be ready to secure the trade with BE-SL or TL-SL, & then just let the trade run; if I should get stopped-out; then I will keep on re-entering again & again on-signal-based).
Best regards.
As we know, many traders are actively looking out for the great Long opportunity in EURAUD pair as of now; but in my opinion, a Long opportunity in EURNZD could have even more potential; due to the fact that the AUDNZD pair could be in for a longer-term reversal (to the upside) pretty soon (which means...)...
Here EURNZD is a pair which I will only be strictly eyeing for (Long opportunities/signals only).
Other pairs in my "hot-list" currently:
NZDCAD 0.21% (Short)
GBPNZD -0.34% (Long)
GBPUSD 0.06% (Long)
USDMXN 0.49% (Short)
EURMXN 0.39% (Short)
EURNZD -0.44% (Long)
AUDNZD 0.21% (Long)
*For each of the above pairs; I will be looking out strictly either for the Long or Short opportunities only (in the 5mins chart; I will get in once I received a signal & then be ready to secure the trade with BE-SL or TL-SL, & then just let the trade run; if I should get stopped-out; then I will keep on re-entering again & again on-signal-based).
Best regards.
Note
Currently this pair is having a "Sell signal" in the 5mins chart. In addition, the AUDNZD pair is also having a "Sell signal" currently as well!So strictly no Longs for this pair yet; as well as for AUDNZD pair, for now.
When the buy opportunity do come in (hopefully coming Monday), then I will pounce on the opportunity to go Long!
Best regards.
Note
In case if you are wondering as to "what shall be a Buy signal?"- The most "simple" method will be to use Heiken-Ashi Candlesticks; just lookout for a series of Green-color candlesticks formation (in higher timeframes like the 1hr chart for example) - to have a confirmation for a Long.
- Another method is to use ZigZags (indicator); I personally use a series of custom ZigZags that defines the primary wave & also the secondary waves; so if the primary wave is Up (which will 1st need to be formed by price-action ofcourse), then I can wait for a secondary wave to form Downwards 1st - to Long a Downside pullback/retracement/correction; for the main trade Up (the primary wave direction). The ZigZags (2 sets) must be customized/set correctly, appropriately, & accurately.
- Another option is to use moving average(s) (which must also be set correctly, appropriately, & accurately). I personally use my own custom moving averages (such as the Non Lag Moving Average Version 6) on higher timeframes like the 1hr chart; together with the Heiken Ashi candlesticks if you need to.
Regards.
Note
Forgot to mention above that my custom ZigZags works quite perfectly in the 5mins chart (zoomed all the way out); it is by far the best timeframe for a confirmation signal, for the pairs of ZigZags that I'm currently using, based on my experience.Regards.
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.