Bullish NZDUSD for 8/21
8/18's candle closed above the 3 SMMA after closing below on 8/17. Therefore, I am expecting 8/21's candle to close above the 3 SMMA .
I will be looking for buy signals on the hour time frame that look similar the buy signal on the daily that you see here (candle close below 3 SMMA , then candle close above 3 SMMA ).
This is a day trading technique and I will not hold any position over night.
My plan is to place 2 trades once I get a buy signal on the hour time frame. One trade will have a 20 pip stop and a 20 pip take profit target. The second trade will have a 20 pip stop and no take profit target. The second trade is designed to grab any strong bullish movement for the day. Each trade is worth 1% of my beginning daily account value.
I will be looking for buy signals on the hour time frame that look similar the buy signal on the daily that you see here (candle close below 3 SMMA , then candle close above 3 SMMA ).
This is a day trading technique and I will not hold any position over night.
My plan is to place 2 trades once I get a buy signal on the hour time frame. One trade will have a 20 pip stop and a 20 pip take profit target. The second trade will have a 20 pip stop and no take profit target. The second trade is designed to grab any strong bullish movement for the day. Each trade is worth 1% of my beginning daily account value.
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.