If Stochastic confirms the swing low in the next day or two then we could be in for a nice 150 pip long on NZDUSD. The price has gone above the 50 SMA and the pivots have started to move in an upward direction.
Always happy to hear some else's view on this.
I don't trade GBP pairs because they're so volatile but everything is lining up on this one for a quick 5 day short. Looks like we're bouncing off the 50 SMA and the pivot point, the candle is a nice bearish pin and the Stochastic has crossed, I think there are 120 pips in it.
Big engulfing candle and a double test of the pivot point could be a sign of a reversal and 90 pip trade, i'll leave it for now but this looks like it's a continuation of the downtrend for this pair, i'll wait until stochastic crosses above the 80 to jump in.
Looks like I might have the candle I've been waiting for to push AUDUSD back up to resistance levels, Stochastic has just crossed. ADX is still showing a trend so it might be a day or two early for a trade but the signs look good. I think there's potential for 130 pips.
As always if you have an opinion on this then I'd love to hear it, I'm always keen to learn.
Priced has bounced off the pivot point and then a second bearish candle working with the established downtrend, Stochastic has crossed over above 80. ADX has also started to decline from the short previous up-trend. A 90 pip opportunity over the next couple of days?