Again all is explained on my chart, i will be setting a buy order somewhere in my green box because this is a strong setup, 3rd trendline touch and strong support!
If the trade goes active and hits stop loss then you just have to learn that sometimes this does happen and nobody is correct all the time, if you cant accept this you don't have the correct mindset...
Me and my team entered a short position on this pair after noticing the break of the bearish flag formation after the large downwards impulse. Hopefully this trade will roll over to the downside next week.
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We are in overal downtrend on Weekly Dayli and 1H charts.As we can see price nicelly respecting our top trend line and heading back down this is how i see price movement for next days from technical side.From fundamental side all i can say that JPY is a lot stronger than NZD what making me think price may go down even more.Let me guys know what u thinking about...
Price as broken a weekly support and now formed a consolidation zone that has been rejected on the 4HR. from here we should see price fall back down to the bottom of the consolidation zone with the potential for further downside.
As you can see this pair has reversed somewhat and currently trading below 50 EMA. We have seen a pullback with a bearish candle which suggest we might see another push down to make a double bottom at least if not more. I have therefore gone short on this and marked tp and sl for you as well.
Let me know your thoughts.
Trade safe and good luck.
End of a nice impulse run, fib level from start to finish looking like a nice spread,
Price will consolidate for a short period breaking the uptrend to then retest this areas pull back to the .318 level and im looking for a push to the downside to go short.
NJ here. This pair has failed to break this resistance level for over two weeks now, with a correction over the past few days due to the corona virus manipulation it has come up too a level of interest. Upon a daily candle closure forming as a shooting star, doji or spinning top, I will be looking to take short trade from the purple box region. Taking partial...