How's it going traders, here we have a short term NZD/USD long setup on the 1H.
Price has hit a Fibonacci extension swing bottom and accumulated for some time. I believe now is the time to be buying into an advantageous early position.
Bare in mind this does correspond with my NZD/USD analysis, so I would recommend viewing my other NZD/USD analysis so you fully understand why I've decided to jump into this pair again.
Will be updating as it progresses.
Price has hit a Fibonacci extension swing bottom and accumulated for some time. I believe now is the time to be buying into an advantageous early position.
Bare in mind this does correspond with my NZD/USD analysis, so I would recommend viewing my other NZD/USD analysis so you fully understand why I've decided to jump into this pair again.
Will be updating as it progresses.
Trade stängt manuellt:
When price closed as a bearish engulfing signal (See below chart) this is when we leave the trade.
Staying in after a candlestick reverse pattern would not be logical. And if you see the candle that came after the bearish engulfing, you would see why!
Remember guys. "Cut your losses short, and let your profits run."
Staying in after a candlestick reverse pattern would not be logical. And if you see the candle that came after the bearish engulfing, you would see why!
Remember guys. "Cut your losses short, and let your profits run."
Kommentera:
Price is now ready for another pop to the upside.
When I took this trade before, I expected success, but it did not move as we planned.
I am man enough to admit I was wrong at predicting the timing for the NZD/USD breakout yesterday.
Today, I am in again. The pair is breaking structure again, and looks great for upside. I am in and hoping for price to hit the highs unlike last time. Never give up on a pair just because it wronged you a couple of times. If the trade fits your rules and it's gone wrong a few times, try again.
Don't ever select pairs based on how you feel towards them; select pairs where the chart tells you is a good time to enter.
When I took this trade before, I expected success, but it did not move as we planned.
I am man enough to admit I was wrong at predicting the timing for the NZD/USD breakout yesterday.
Today, I am in again. The pair is breaking structure again, and looks great for upside. I am in and hoping for price to hit the highs unlike last time. Never give up on a pair just because it wronged you a couple of times. If the trade fits your rules and it's gone wrong a few times, try again.
Don't ever select pairs based on how you feel towards them; select pairs where the chart tells you is a good time to enter.
Move stop loss in accordance with your trading strategy.