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Symmetrical Triangle with Breakout in NZDJPY Towards 78.50Trend Analysis The main view of this trade idea is on the 30-Min Chart. The FX Cross NZDJPY is in a symmetrical triangle setup. The support trend line is connected by the 76.50 and 77 high lows while the resistance trend line is connected by the 78.11 and 77.60 lower highs. Expectations are for a breakout higher, with a target of 78.50. A failure of this setup will be observed if NZDJPY were to decline to 76.855. Technical Indicators NZDJPY has positive crossovers on its short (50-MA), medium (100-MA) and long (200-MA) term fractal moving averages. The RSI is greater than 50 and there has been a positive crossover on the KST. Recommendation The recommendation will be to go long at market, with a stop loss at 76.855 and a target of 78.50. This produces a risk/reward ratio of 1.48. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. Currently I have a position in NZDJPY.
Long
by Ceddy86
Outlook on Gold: Pullback presents an opportunity to buy Prices are holding well above the daily support, and we are seeing consolidation on the H1 time frame along with a clear break of structure above the recent high. A pullback to test the support zone at 1752, in line with the 78.6% retracement presents an opportunity to play the bounce with 1769 as the resistance target. Keeping in mind the daily time frame echoes a more bullish view, a break above the 1769 resistance target could see prices extend its rally.
FOREXCOM:XAUUSDLong
by shermzT
USDCHF: My Trading Plan For Today 🇺🇸🇨🇭 Hey traders, Earlier we discussed a very bullish bias on USDCHF. This week the price retraced, the pair dropped to a strong intraday/daily demand zone. Our confirmation to buy will be a neckline breakout of an ascending triangle formation on 1H. We need 1H candle close above the underlined yellow neckline. Then buy aggressively or on a retest. Intraday goals will be: 0.9265 / 0.928 In case of a new lower low formation on hourly, the setup will be invalid. ❤️Please, support this idea with like and comment!❤️
Long
by VasilyTrader
10
EURNZD: Ranging Market & Trading Plan 🇪🇺🇳🇿 EURNZD is trading within a narrow consolidation trading range on 6H. 1.67 - 1.6715 is its resistance 1.653 - 1.655 is its support. The price is approaching its resistance now. To sell with a confirmation wait for a bearish breakout of a rising channel on 1H. Goals will be 1.6615/1.655 In case of a bullish breakout of resistance of the range, the setup will be invalid. ❤️Please, support this idea with like and comment!❤️
Short
by VasilyTrader
24