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NZD-CHF

Bullish NZDCHF for 8/218/18'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.
Long
by BACapitalManagement
New Zealand Dollar / Swiss Franc DISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". Alright everyone, check this break of trend that happened these last two weeks. Didn't go too far though, hit previous support and bounced back up on the last hours of Friday's trading. So lets wait for a break of previous support and confirmation of a trend reversal. Here's a look at the hourly hitting the fibonacci retracement levels: Practice patience. Safe trading!
by EdwardFabianRamirez