SELL AT FORMER SUPPORT TURNED RESISTANCE. CONFLUENCE : 50SMA D1 BEARISH PIN BAR D1 BEARISH ENGULFING BAR H4 NOTE: H4'S 20SMA AND 50SMA ARE SIGNALLING BUY @ 0.7525 CONFLICTING SIGNALS BETWEEN H4 AND D1. I RESPECT D1 MORE THAN H4 THUS I WOULD PREFER A SELL TRADE. TREAD CAREFULLY.
The NZD/USD has been in a significant downtrend since July of 2014 as the USD strength continues to rule the FX Market. We have seen quite a dramatic pullback within the NZD/USD that has now set us up for an excellent selling opportunity to trade back in line with the overall downtrend. We have 8 factors of confluence on the daily chart that support a bearish...
Simple continuation pattern forming up nicely right now. Also note that the ceiling around 0.7450 is providing a strong resistance, and together with the short-term uptrend line, means that NZDUSD prices will either break upwards (thus continuing the retracement move up), or break downwards (thus starting the next downwards move). Hence, DO NOT sell now yet,...
OK I MUST START BY SAYING THAT WHEN A CHART IS POSTED BY ANYONE WITH A PARTICULAR TARGET, IT IS BASED ON THE REVERSAL POINT THAT WAS SET PRIOR. SO IF I SET MY REVERSAL TO 5 ON A SHORT WITH A 61.8 TARGET, AND THE MARKET GOES FURTHER DOWN TO 3, YOU MUST BE SMART ENOUGH TO KNOW THAT YOU MUST ADJUST YOUR RETRACEMENT TOOL TO 3 TO GET A MORE ACCURATE TARGET. IF YOU ARE...
PREVIOUSLY I HAD A STRATEGY TESTING ON THIS PAIR WHERE I WAS ABLE TO PREDICT 4 TARGETS IN THE FUTURE, HOWEVER, MY FIFTH AND FINAL TARGET WAS A BIT DELAYED BY THIS PATTERN THAT IS DEVELOPING. I DON'T FULLY UNDERSTAND HOW TO USE TRADING VIEW AS YET, BUT WHERE THE ARROW STOP IS NOT MY TARGET. MY TARGET IS LOWER, BUT AS USUAL I WON'T USE ANY LIMIT FOR THIS ONE, I...