today i want to share with you a simple pattern formation that occurs very often in the market that's very effective. It's the double top; it happens whenever price action fails in making new highs in a bullish market. This could be the first sign of a reverse and draws traders to the market.
Here on NZDUSD we are in a long bullish trend and price...
not much on my radar today (except the winning trade on USDJPY). Nonetheless i've found something valuable to share with you.
It's a trading opportunity on NZDUSD that starts from the higher timeframe. On the daily we are at the completion point of a Cypher pattern; at the same level we can notice also structure (black line). That's why i began to look...
today i want to share a traditional structure based trade that's on my watchlist today. On the left hand side of the chart you can see on NZDUSD we are fronting a key resistance level that may stop price action's rally. If you follow me for a while you know i'm a conservative trader and that i need additional reasons for entry in order to set my orders....
after banking some pips during the night (see the trade attached) i want to share with you another pattern; this time it is a Bat pattern (that usually gives us a better risk to reward ratio) and it's right at a structure level that may turn into resistance for a bounce off of it.
Stops above X, targets as in the chart.
If you have any doubt, don't...
another analysis today: i wrote all my clues of this trading opportunity on the chart above. So just look there.
I want to emphasize my last clue, structure. Without it i do not even consider the possibility of entering the market.
Stops 1atr above double top's highest high. First target at 1:1 RR, second along with structure.
If you have any...
NZD/USD is looking ever more stretched and has failed 3 times to take out .7347.
With a likely USD boosting victory for Hillary Clinton and a likely rate cut from the RBNZD tomorrow, going SHORT here makes sense.
We at Carleton Capital are SHORT NZD/USD from .7323 with a reasonable STOP at .7350 for a 27 pip risk.
Our RVI algo is expecting a cross over south on...
earlier in the week we've highlighted a possible reversal zone in the daily chart of NZDUSD (see the attached analysis) and so today found a double top right at that previous daily level (black line).
The engulfing kicker (under the arrow) is the confirmation signal that we were waiting for entering the market.
Target1 at the retest of the lows and...
today i want to share with you some of my analysis on NZDUSD. In order to have a complete vision we have to go on higher timeframes (for me the daily).
In this particular case we have a lot of different strategies that are pointing at the same level. As you can read in the chart we have fibs, harmonic moves, harmonic pattern, and most important,...
NZD/USD has reached significant fib levels and with price moving out of overbought we at Carleton Capital feel this pair is ready to be shorted. Our AUDNZD algorithm is flagging this as a SHORT at market - .7314.
Our STOP is shown at .7347 so this trade carries a 33 pip risk.
NZD/USD has strengthened impressively over the last 20+ hours but there are clear signs this rally is exhausted.
RSI on H1 is over 80 and this is a decline from earlier levels.
We at Carleton Capital are pacing a SELL STOP on this pair from .7287. Price is currently .7299.
We have a tight STOP at .7311 for a 24 pip risk.
Target is the 200 sma initially at .7160...
The break up of the bull flag would be super bullish. The green support has 3 hits. If Kiwi stays within the declining channel and breaks down that green support, it would clearly open the space underneath for a steep drop. All in all, it is a great technical picture which can be played both ways depending on the direction of the break out.
traders, i hope you are all ready for this week of firework - i will be continuing to look at carry trades as we expect some reallocation to the kiwi as investors re-consider the RNBZ outlook. Moreover while futures point toward further upside in this weeks milk auction
as many of you have seen my related idea which will be the long up til .75x levels (see...