As we can see on Friday bears made a big push through strong support, i want to see price push back up and re test this area as resistance before pushing down even further. There are around 600 pips between my 2 areas so this would make for a lovely swing trade.
Simple setup that most people wont see as there minds wont let them accept this is a good setup as it...
Previous BUY banking a healthly gain for all who stayed in! SELL now open and currenly running +70 pips!
What is our strategy?
Our strategy is a trend following strategy - that is coded in pine script to use with the trading view platform - the entries are shown automatically! NOTHING is done manually, it can be used on any instrument and time frame. However,...
We can see that this finally broke out and is now going to retrace, I am waiting for price to respect one of the Fibo levels before I place a buy to the top!
This can be sold from this level and im going to guestimate TP will be around the 50.0 level
After a 4 HR Trend-line touch and fall, EUR/NZD has broken a short term micro uptrend and looks poised to break below the minor key level and continue the bearish movement - potentially a 150+ pips trade.
Price has broken the previous resistance level and has returned to retest the level we will be looking to see if price respects this level as a new support or if it breaks back through the level.
If price breaks through the level we'll be looking for price to retest the level as a new resistance then we'll enter a short position.