NZDUSD: get ready for a bounce back!
Hey there! Let's talk about the NZD/USD market and what to expect next. After a prolonged period of decline, the market has hit a plateau. Bulls, unfortunately, suffered a blow when the support level of 0.60841, which had been holding the uptrend, was broken. This flat phase we're experiencing shows all the signs of typical manipulation with highs and lows.
Now, here's the intriguing part. Our trading strategy has formed a solid model that indicates the potential for a limited further decline. There is a limit at 0.60544, and we believe this level is just perfect for wrapping up the manipulation game and making way for a bounce back. Why is it perfect? This level conveniently sits below the low of 0.6062, which we saw back on January 23rd.
Here's what we predict: We anticipate that the 0.6062 low will be broken through, and once that happens, the market will soar high. Our target is to close the gap at 0.61931, which was formed in the heart of January. It's so exciting, don't you think?
To take advantage of this, we're placing a limit order to open a short position at 0.61016. Our aim is to close the position at 0.6058. We'll start with a trade volume set at 1/2 of our limit for opening deals. Here's the interesting part: If the 0.6062 level is pierced without reaching 0.6058 and the market bounces back above 0.6062, we'll close the short position and simultaneously open a long position at the full limit. And hey, if we manage to close the short position at 0.6058 without any further decline below 0.60544, we'll also initiate a long position.
Stay tuned for exciting opportunities in the NZD/USD market!
Now, here's the intriguing part. Our trading strategy has formed a solid model that indicates the potential for a limited further decline. There is a limit at 0.60544, and we believe this level is just perfect for wrapping up the manipulation game and making way for a bounce back. Why is it perfect? This level conveniently sits below the low of 0.6062, which we saw back on January 23rd.
Here's what we predict: We anticipate that the 0.6062 low will be broken through, and once that happens, the market will soar high. Our target is to close the gap at 0.61931, which was formed in the heart of January. It's so exciting, don't you think?
To take advantage of this, we're placing a limit order to open a short position at 0.61016. Our aim is to close the position at 0.6058. We'll start with a trade volume set at 1/2 of our limit for opening deals. Here's the interesting part: If the 0.6062 level is pierced without reaching 0.6058 and the market bounces back above 0.6062, we'll close the short position and simultaneously open a long position at the full limit. And hey, if we manage to close the short position at 0.6058 without any further decline below 0.60544, we'll also initiate a long position.
Stay tuned for exciting opportunities in the NZD/USD market!
Trade active:
Well, well, well! Instead of the anticipated local dip, we were greeted with a rise. But there's no need to worry.
Our analysis reveals that the recent peaks achieved can be attributed to the short-term efforts of buyers. Now the tables have turned, the sellers have reseized the initiative.
We have set our sights on a downward target within the current market structure. Today, our focus is on 0.60800, followed by 0.60854 tomorrow. If we manage to reach 0.60787 today or 0.60842 tomorrow, it would signify a shift to the bear market.
Our analysis reveals that the recent peaks achieved can be attributed to the short-term efforts of buyers. Now the tables have turned, the sellers have reseized the initiative.
We have set our sights on a downward target within the current market structure. Today, our focus is on 0.60800, followed by 0.60854 tomorrow. If we manage to reach 0.60787 today or 0.60842 tomorrow, it would signify a shift to the bear market.
Trade active:
We opened an additional short position for the second half of our limit at the rate of 0.6143.
Trade closed manually:
We closed our short positions at 0.61296 with 0.12% loss.
