NZD/USD multi time frame analysis, Trading Idea #2Purple Zones = Daily SNR
Red Zones = 4 H SNR
Orange Zones = 1 H SNR
Yellow Zones = 5 Min SNR
Blue Lines = Opportunity for trade
1.) SHORT TRADE REVERSAL
When Candle close bellow Resistance and next candle form as Bearish( better if it is some Bearish reversal candlesticks like bearish engulfing candle or bearish evening star etc....) open short trade;
- Stop Loss above resistance zone
- Take profit little bit above next support (or if see that candlestick break next support (new Bearish candlestick open bellow next support zone) keep open trade to get more profit)
- Check Economic calender to be sure that avoid trade on double (15 Min before and after news) and tripple news (30 Min before and after news), and also speak with double and tripple star (2 H before and after speeach) =Check www.forexfactory.com
2.) SHORT TRADE CONTINUATION
When Bearish Candle close bellow support zone place Short trade (better if is some strong bearish candle) Open short trade
- Stop Loss above resistance zone
- Take profit little bit above next support (or if see that candlestick break next support (new Bearish candlestick open bellow next support zone) keep open trade to get more profit)
- Check Economic calender to be sure that avoid trade on double (15 Min before and after news) and tripple news (30 Min before and after news), and also speak with double and tripple star (2 H before and after speeach) =Check www.forexfactory.com
3.) LONG TRADE REVERSAL
When Candle close Above Support and next candle form as Bullish( better if it is some Bullish reversal candlesticks like Bullish engulfing candle or Bullish Morning star etc....) open Long trade;
- Stop Loss Bellow Support zone
- Take profit little bit Bellow next Resistance (or if see that candlestick break next Resistance (new Bullish candlestick open above next Resistance zone) keep open trade to get more profit)
- Check Economic calender to be sure that avoid trade on double (15 Min before and after news) and tripple news (30 Min before and after news), and also speak with double and tripple star (2 H before and after speeach) =Check www.forexfactory.com
4.) LONG TRADE CONTINUATION
When Bullish Candle close above Resistance zone place Long trade (better if is some strong Bullish candle) Open Long trade
- Stop Loss Bellow Support zone
- Take profit little bit Bellow next Resistance (or if see that candlestick break next Resistance (new Bullish candlestick open Above next Resistance zone) keep open trade to get more profit)
- Check Economic calender to be sure that avoid trade on double (15 Min before and after news) and tripple news (30 Min before and after news), and also speak with double and tripple star (2 H before and after speeach) =Check www.forexfactory.com
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