NZDUSD 4H Range Breakout

Updated

The 4H has created a great range to trade a breakout either direction. The long trade has a resistance level as the TP. The short trade has the 50 sma as a TP. SL behind the breakout candle. Set a price alert to notify you when price breaks one of these levels.
We have many different strategies to learn on our blog and we are constantly coming out with new strategies for traders to learn every week. Visit us below on the website, Twitter or Facebook.
Check out our new recent free trading strategies guides with the VWMA, News Trading, Short Term Trading, Gann Fan Trading, Bill Williams Awesome Oscillator Trading, Cypher Pattern trading and more...
We just added a 5 step Bitcoin Trading Strategy.

Note

I just used a 30 m chart to find my stop order entries.

Note

My short entry was @.7475 and SL above previous candle @.7495. air went positive for 15 pips then reversed and took out my SL for -20 pips. As I review this pair I see that my Day chart setup was still bias long and the fib retrace was down to the 61.8% area and then returned to the long trend. Pair has traveled across to the top of the range and entered my long trade @.7512. The swing high is @.75584 so my TP is @ .7545.

Tradingstrategyguides

Also on:

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.