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Nzfchf

NZD/USD, NZD/CHF and EUR/GBP on watch for me today.Good morning one and all. So I didn't place any trades yesterday to a large extent because there were some volatility spikes that occurred across the board yesterday and in my experience price will often come back up or down to fill such spikes before it can continue in my forecasted direction, which in some cases appears to be what's now happening. So once again I was happy to sit on the sidelines and wait for something which meets the requirements of my trading plan to present itself. Some of what I'm looking for today is going to need a little early London Session momentum for it to be ready before the end of today, but if I have to wait a little longer for what I'm looking for to shape up then so be it. Trading is about patience and trying to catch the investment opportunities which give you your edge over the market, it's not about trying to catch every conceivable investment opportunity. So below are my entry requirements for today as per usual for your viewing. Have a great day and I'll speak to you again tomorrow! NZD/USD: • If price pushes up to and ideally just above our lower rayline and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. NZD/CHF: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it. • If price only pushes up to and ideally just above our lower rayline and the last part of the move is corrective, then I'll once again be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it but I'll be hiding my stop loss above our upper ascending trend line for extra protection. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. EUR/GBP: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Short
by StewySongs
NZDCHF Facing Bearish Pressure | 15 June 2021NZDCHF holding below long-term descending trendline resistance. A short-term drop below our entry at 0.64396 and also Fibonacci confluence zone towards graphical swing low level at 0.63979 could be possible. Stochastic is testing resistance as well where the price dropped in the past. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by FXCM