If you mark this support/resistance level on your chart and check what happens historically when price hits this level you will see that we normally get a 100+ pip bounce, so thats what i am looking for this time, price is around 200 pips away from this level at the moment so i will be buying upto this level where i will have a sell order in place to catch this...
Keeping it simple and letting price dictate what it wants to do
Waiting for price to break resistance before first buy then doing the same with the second
There is divergence on multiple timeframes and price has broken a downward trend line (not drawn)
On this chart we can see a pull back that has occurred during this uptrend, a new level of support was found and price has come back to retest
We are already in this trade and I will be expecting price to bounce off this level and continue moving up
I've just gone LONG GBP/NZD. Price has returned to WS1 and found support and looks primed for a move north. I'm in at 2.0418 with a STOP under the swing low at 2.0354 which is under WS1. Looks a good thing this with my Disciplindicator confirming with 2 stars.
This is my first published article on tradingview, I am not experienced however I am learning so would appreciate any and all advice
I will be taking a buy on 38.2 fib level (~1.96880)
TP1 - 1.97180 (30 PIPS)
TP2 - 1.97380 (50 PIPS)
TP 3 - TBD
Please let me know what you think of my idea!!
Price of GBPNZD has currently been travelling in an ascending channel. There is a minor support trendline marked out in a thinner black line inside the the channel. Price just recently broke below this line indicating a drop down to the bottom of the major channel like it previously has.
We sent this trade out to our FREE signal members on the entry of the chart!...