We've had 5 hit points on this falling wedge. Given this number and the fact that the market is very near the apex of the triangle expect a break into the upside on the next hit, but it could of course be on hit 7. Green lines indicate the profit targets. Second one is most likely and the third one will be a really good hit. Massive risk/reward on this trade.
Trend is down, a bearish patterm shows up...I'll take it.
Break of structure and then retracement in to previous structure gives us a shorting opportunity
T/P @ 1.5074 Entry @ 1.5269 S/L @ 1.5399 I think the Chart tells whats my idea here. ;) Have a nice weekend guys!
With the strength of the dollar seemingly unstoppable (at least until December interest rate news comes out), USD seems like a good bet in general. In particular NZDUSD made the Morgan Stanley chart of the week (see link), in terms of bearishness. Also, New Zealand PMI just came out a bit lower than previous which supports this assertion. On the technical side,...
Active Trade Buying Now For 1.4600 Take profits Take profit Hit up 430 pips more for the day.
This to me looks like a very bearish set up on the monthly and weekly charts also. The pair has broken key monthly resistance, tried to push back through, but had the price rejected only to fall further. Our two moving averages still having crossed over. We also have candle conformation as we have a larger bearish candle. The NFP last friday also had a very...
On the lesser time frame charts it seems that most of the hourly pull back has already happened . I see this as being a good opportunity to get short to collect at least 20 pips (shooting low) I'm just trying to hit a single or double here not the best opportunity for the upcoming week... but none the less a pretty safe trade to start your week off with.
The kiwi is trending downwards with clear levels of support and resistance. Just now going through significant level at 0.7415 - which I will take for a genuine break if price action reaches at least about 0.7380 level before reversing. The prior retracements have met very clear resistance levels, thus I looking to short around 0.7415 level. The exact numbers for...
The kiwi against the dollar has had clear tendencies to turn at strong areas on 4H chart looking back