@everyone** NZDUSD hrly long**
⚠️ half risk due to lack of trend
Buystop @ .66359
TP #1 @ .66530 77.63% wr
TP #2 @ .66752 56.58% wr
SL @ swing low .65990 17.11% hr
Hr and Wr determined from past trades
For more trades, view my profile or BifrostTrades.com
Price has already respected my trendline. Since i close all my position over the weekends, i'd love price to get back to my trendline so that i could short
Long positions above 0.6535 with targets at 0.6560 & 0.6600 in extension.
Alternative scenario
Below 0.6525 look for further downside with 0.6505 & 0.6470 as targets.
NZDUSD is trading according to the time cycle (as you can see in the chart). NZDUSD is also trading in a channel pattern moreover it is trading in a synchronize pattern with the time cycle. At the beginning of time cycle, price is at high point A or at the resistance of channel pattern (as you can see in chart), in the middle of time cycle it is trading at lowest...
NZDUSD is trading in channel pattern we might see, that it will trade in the same manner. One can take the trade on a buy or sell side at the support and resistance level of channel pattern, respectively.
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Note - Trade With Proper Risk Management system.
Thanks.
NZDUSD is currently trading in a symmetrical pattern, which indicates that the trend is not decisive, as NZDUSD can give a breakout on either side for longer-term trends. For a period, it will trade in the symmetrical triangle pattern. Trade can be initiated for the long side for a very short time and gain few pips of profit until it gives a breakout from the...
