NZDUSD_Clear direction_Wave Analysis_Long

NZDUSD is in certified uptrend on the daily and has since pulled back and tested old support and verified it has now become resistance (Purple circle on daily .69500-.69400)

This also aligns with my current trading plan bias of XXX/USD symbols higher with lower USD/XXX symbols (See related idea.)

Two entry points have been established, of which I will enter 2% of account balance on each. The first entry point is obvious, just a break of the high. The second, a strategic entry on a unlikely pullback.

1. Long at .70342
2.Strategically Long at .69779


Stop at .68990. Technically far below uptrend invalidation level.69011, but comfortable due to round number protection.


T1 .71694
T2 .73046
T3 .74398

IF you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated!
TElphee – Self-made Technical Analyst. 5-year market enthusiast with experience in Forex, Futures and Cryptocurrencies.
Disclaimer: FXCM data shown. This is NOT investment advice.

Handel aktiv:

Aggressive entry triggered on the open.

Trade stängt: målet nått:

Winner! First target reached Friday. 50% of trade closed. Other 50% set on T2 with stop manually trailed up to .71500.

Trade stängt manuellt:

T2 reached. What a perfect trade. Patience was key. Saved 1% for this exit to made 4%. Very satisfied. Enjoy the profits

Kommentera:

Picture perfect. Congratulations to anyone that held.