Sorry if the chart is a little bit vague, please do not hesitate to ask any question you may have.
I believe during this week, we would heat target 2.
Please set your TP and SL for target one for now and I will update once we got closer.
Cheers,
Masih
Morning traders by now you should have 70 points from this trade set up.
Price action has hit the first hurdle at the 0.70667 level where we can see previous structure and exhausted candles to the upside.
It's likely price will now range and challenge new highs up towards 0.71500. At this level it's advised stops are moved to 0.71000 to lock in profits while...
NZD/USD is now trading in the middle of the .68400-.70500 range. Look to shor t around the .70400-.70500 area and take profit down range support around .68400-.68500 . Stop loss 50 pips away from entry price .
NZD/USD has failed to break the critical level yesterday. The uptrend is still intact, becareful shorting the pair.
However, with a potential double top and the uptrend losing its momentum, we will be on a lookout for a possible move to the downtrend .
This could grab us some nice pips if it works out nicely.
Please leave your comments so that we all can learn...
On the NZD.USD 1h chart we have a potential short opportunity at the D leg completion of a Bat Pattern.
The price reversal zone on this pair is between 0.6938 & 0.6946
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Fibonacci Confluence: 88.60% - 1.618%
Potential targets for the Bat Pattern placed at...
There is nice bearish bat pattern setting up on the 240min chart. I would look to get short around .6942, stop above the swing high around .6973, target one .6830 and target two at .6775. If you are looking for shorter term long opportunity, I would look at the .6830-.6820 zone highlighted in blue. There is a .382 fib right into some structure. The 60min chart...
Prices did not hold double resistance (Tenkan Sen + Kijun Sen) today.
They should now test the top of KUMO, which is very thin suggesting that a change of trend could be easily done.
1st target = Weekly TS (orange)
2nd target = Top of KUMO (red)
3rd target = Weekly KS (purple)
Good luck
The downtrend is currently being broken, corresponding to 61.80% fib retracement
Prices are above the cloud
Prices are holding tenkan sen
TP1: 0.67587 (next level retracement)
TP2: 0.68861
Stop on KS at around 0.65900
