Will the uptrend continue for NZDCHF?
Updated
As I write this trading idea, my buy limit order has been hit at 0.65947.
Trend bias on the Daily Chart
Price is above the 3 baseline which indicate that the over all uptrend is still in tact. The highest peak is 0.67673 and retraced below the 50 baseline (red moving average).
Confirmation showed a buy signal (green dot) which indicate that the trend will go higher. this is also supported by the histogram moving higher.
Confirmation 2 is still in the BUY Zone (above zero) and rsi just crossed the signal line which tells me that the probability of moving higher is likely.
Entry Trigger in 1 Hour Timeframe
Ideally I would like to capture the price before the 20 MA (red) crossed the 200 MA. However, Confirmation is still in Buy Zone (above zero) and rsi just crossed signal which means that the uptrend may continue.
What are the Exit Signal?
We don't want to get the stop loss to get hit totally. If we could get early signals that this trade idea is no longer valid, then that would be great to save the capital.
Here's the exit signal for this trade
Daily Chart
1. Confirmation 2 will go lower and below zero. we would monitor rsi if it crosses the signal. setting an alarm is very helpful so that we don't need to watch the chart every hour.
2. Confirmation will go lower and a SELL signal would show up.
One Hour Chart
If the SENTIMENT (YELLOW MA)in the Confirmation 2 will go below zero level then it is an indication that the bears is getting back the control. We would also watch the 20 MA(red) in the chart if it getting lower instead of climbing higher
========== Disclaimer ================
You should consider whether you understand how this asset work and whether you can afford to take the high risk of losing your money.
Trend bias on the Daily Chart
Price is above the 3 baseline which indicate that the over all uptrend is still in tact. The highest peak is 0.67673 and retraced below the 50 baseline (red moving average).
Confirmation showed a buy signal (green dot) which indicate that the trend will go higher. this is also supported by the histogram moving higher.
Confirmation 2 is still in the BUY Zone (above zero) and rsi just crossed the signal line which tells me that the probability of moving higher is likely.
Entry Trigger in 1 Hour Timeframe
Ideally I would like to capture the price before the 20 MA (red) crossed the 200 MA. However, Confirmation is still in Buy Zone (above zero) and rsi just crossed signal which means that the uptrend may continue.
What are the Exit Signal?
We don't want to get the stop loss to get hit totally. If we could get early signals that this trade idea is no longer valid, then that would be great to save the capital.
Here's the exit signal for this trade
Daily Chart
1. Confirmation 2 will go lower and below zero. we would monitor rsi if it crosses the signal. setting an alarm is very helpful so that we don't need to watch the chart every hour.
2. Confirmation will go lower and a SELL signal would show up.
One Hour Chart
If the SENTIMENT (YELLOW MA)in the Confirmation 2 will go below zero level then it is an indication that the bears is getting back the control. We would also watch the 20 MA(red) in the chart if it getting lower instead of climbing higher
========== Disclaimer ================
You should consider whether you understand how this asset work and whether you can afford to take the high risk of losing your money.
Note
Set Alarm at 0.65803. This is a warning alarm that the idea might be invalid at this level. will check other exit signals when this level is hitNote
UP 22 pips from entry. so far no sign of exit signals yet.Note
Adjusted Stop Loss to Trail Stop (0.66042)Trade closed: stop reached
0.66042 trail stop reached.Trade active
re entry @ 0.66154 (0.25%)Trade closed: stop reached
stop loss hit
Disclaimer
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