Price has been in a range as you can see. Preceding trend was bearish so I feel comfortable taking a short close to the top. Initial target will be at the channel bottom with a stop above the channel. Good luck if you take this trade. Please give a thumbs up if you like this.
Here is an essence of good trade management and mindset that I accumulated over several years. I hope it will be useful for the 'less experienced'. Please always use sound money and risk management in all your trades. Good luck!!
Does you trade using Ichimoku? NZDUSD looks like a good buy on H1 and H4 time frames. On the D1, it could look great when the daily candle closes (hopefully above the cloud). Appreciate your thumbs up, comments. Thanks
It was in Oct, 2019 when I plotted the channel and major levels on this chart. For the most part, the channel has contained price but it has now broken out for the second time. A nice uptrend has been developing during the last 5 weeks but then again, that is exactly what happened in Dec 2019 too. Price just fell back rather impulsively before starting rising. I...
Round numbers are important areas for price action and this can be seen in the daily chart of EURNZD . After failing to close about 1.9000, this pair has declined to 1.8000. Price action over the past 2 weeks has been largely contained within 1.8300 and 1.8000 – in fact I see a top has formed at 1.8300. I see further bearish action in this pair and am looking...
Note how the 20EMA contained price below it as price during mid Feb - Mar this year. It has now crossed over and acts as a dynamic support. The pair is at a significant s/r level, has just retested it as well and IMO is ready to continue its journey to the upside. I believe that Boris Johnson's ongoing recovery from Covid-19 will also support the GBP. For...
From the daily chart you can see 2 major zones that has been containing price for the most part for the past 10 months. Friday candle shows rejection of price and if you switch to the H1 you will get a sense of bullish action having commenced. I don't pay much attention to patterns but do you see a reverse head and shoulders developing (on H1 time frame)? I am...
The large candles in the 4 hour chart are all bullish so I think this is getting ready to break out at the top. A touch at the bottom of the range if it happens will provide a low risk opportunity.