NZDUSD - Can The USD Strength Continue?
Analysis:
Bearish Confluences
Bullish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bearish Confluences
- Strong downwards trend
- Retesting an area of significance
- In the fib retracement "golden zone"
- In a descending broadening channel
- Downwards trendline touch
- The USD is the 3rd strongest major currency whereas the NZD is the 4th strongest major currency
- 2K long position decrease for the NZD
- 2K long position increase for the USD
- Recent USD news has been bullish
Bullish Confluences
- 1K short position decrease for the NZD
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active:
With our entry requirements met and our order filled we are short looking for the USD strength to continue into this week and push price further to the downside.
Trade closed: stop reached:
s3.tradingview.com/s...shots/h/hQpYALYN.png
Trade Closed
(-1R) Lost
After Trade Comments:
This trade was an unfortunate one for us as from the start things were looking really good but that wasn't the result. Price tried to break above our area of resistance, however we saw that move fail, showing us that the bears were still in control of the market and want to push price further to the downside. Whilst we did see a move to the downside initially, this bearish pressure was unable to continue and price reversed, making a move to the upside. With Fed Powell speaking yesterday we saw the USD weaken slightly to begin with which is what ended up stopping us out. Whilst this was looking like a good trade at the start, unfortunately the follow through wasn't there but this happens sometimes and this is part of trading. This is why we always say to never count a trade as win until it's closed because things can be looking good and then suddenly reverse against you and stop you out. Most of the time trading isn't fun and this is just one of the very many negative things about trading, but if you're able to accept that this is part of trading and still carry on and let your edge playout then you're on the path to becoming a successful trader. It's not easy but it worth it. Set your trade and forget about it until it closes, that way your emotions will be less affected as price moves around. All that matters is the result so why even bother looking at your trade if it hasn't closed yet? All that's going to do is get your emotions evolved and if there's one things that's certain about trading it's that you can let your emotions get in the way of your plan. This is one thing that helped us whilst we were learning how to become profitable and it truly did help us, so why not give it a try. Sent an alert at your stop loss and your take profit and don't look at your trade until your alert goes off and we can assure you that this will only doing good for your trading. With that being said lets move on and try to catch the next big move in the market!
Stay Safe - The JPI Team
Trade Closed
(-1R) Lost
After Trade Comments:
This trade was an unfortunate one for us as from the start things were looking really good but that wasn't the result. Price tried to break above our area of resistance, however we saw that move fail, showing us that the bears were still in control of the market and want to push price further to the downside. Whilst we did see a move to the downside initially, this bearish pressure was unable to continue and price reversed, making a move to the upside. With Fed Powell speaking yesterday we saw the USD weaken slightly to begin with which is what ended up stopping us out. Whilst this was looking like a good trade at the start, unfortunately the follow through wasn't there but this happens sometimes and this is part of trading. This is why we always say to never count a trade as win until it's closed because things can be looking good and then suddenly reverse against you and stop you out. Most of the time trading isn't fun and this is just one of the very many negative things about trading, but if you're able to accept that this is part of trading and still carry on and let your edge playout then you're on the path to becoming a successful trader. It's not easy but it worth it. Set your trade and forget about it until it closes, that way your emotions will be less affected as price moves around. All that matters is the result so why even bother looking at your trade if it hasn't closed yet? All that's going to do is get your emotions evolved and if there's one things that's certain about trading it's that you can let your emotions get in the way of your plan. This is one thing that helped us whilst we were learning how to become profitable and it truly did help us, so why not give it a try. Sent an alert at your stop loss and your take profit and don't look at your trade until your alert goes off and we can assure you that this will only doing good for your trading. With that being said lets move on and try to catch the next big move in the market!
Stay Safe - The JPI Team