We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.
On the weekly timeframe we can see that we are in a range between 0.69000 and 0.67000. The overall trend is bearish so we will keep that in mind but we will continue to trade this range until price does manage to break out of it.
On the H4 timeframe there is a decent short opportunity lining up currently on NZDUSD. We have multiple confirmations as price has broke support and is now retesting the new resistance level. We can target the lower weekly level of support at around 0.67000. We can put stops above the 61.8% area
On the weekly timeframe we can see that we are in a range between 0.69000 and 0.67000. The overall trend is bearish so we will keep that in mind but we will continue to trade this range until price does manage to break out of it.
On the H4 timeframe there is a decent short opportunity lining up currently on NZDUSD. We have multiple confirmations as price has broke support and is now retesting the new resistance level. We can target the lower weekly level of support at around 0.67000. We can put stops above the 61.8% area
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.
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.