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Ma200

NZDUSD protected shortToday I can see a trading opportunity for NZDUSD. Previous week was quite difficult for US economy, and we saw economy drop (and some profitable trades, follow me for such ideas right on time). The last months US equity and currency are inversely correlated and DXY itself becomes stronger. So, fundamentals are ok. From the technical side we have closed below the trend line, which is quite strong signal to sell for me. That's why I am entering short, but protecting it with small SL. Doing so I get acceptable TP/SL ratio and insure myself from powerful bulls sentiments. If the position will progress and pair will close below weekly MA 200, I would open one more for more profit. If not, I would watch ahead for longs. This market is very intresting now, and I don't want to leave it out.
Short
by ArtKon
Potential Long Position for GBP/USD_Trade Plan 2017.08.07 Legend for price level, trend line, and rectangle: Orange > Monthly Level Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level Both D1 and H4 are showing the overall trend is still up with price hold above MA200 and major support area 1.29737 - 1.30320. Currently, for the past 3 days, price pull back from the high 1.32687 and now landed slightly above the support area. Trade Plan: If price continues pull back at maximum to Fibo Ret 78.6% confluenced with MA200, show some rejection, forming Higher Low and rejected up, can consider to long the market to follow the potential uptrend continuation. With Stop Loss 60 pips and Target Profit 200 pips, the potential trade offers 3.33 Reward-to-Risk Ratio. Keep in alert if price breaks down below MA200 massively, this trade setup may be invalidated.
Long
by arieg1985
GBPNZD Wave Count: Bull Bat ABC Continuation to Gartley TargetOn the daily time frame, price has been rejected at the PRZ of two larger harmonic bullish patterns (Bat + Gartley). The rejection was swift with a 5 wave bullish impulse, followed by a triangle correction and another small impulse to complete a 3 wave pattern (labeled here as (A) of a possible zig-zag correction). Now we are nearing the completion of a bullish bat pattern near previous corrective wave support (B in this case). The bat PRZ may also be supported by the weekly pivot and the 200 period moving average. The (A)=(B) level is confluent with .618CD on the higher TF patterns, so we may see these higher TF patterns meet their targets with this ABC zig-zag correction. With entry at the bat PRZ, SL placement at 1.13XA and target taken at the confluent target level, this is a low risk high reward trade with a R/R of 8.14. Confluence in the PRZ: Bullish Bat (1D TF) Bullish Gartley (1D TF) Bullish Bat (1HR TF) Previous corrective wave support 200MA support EW Count suggests upcoming bullish impulse .618CD & (A)=(B) target confluence Weekly pivot support Structural S/R Zone
Long
by glennmercer
2
SUNE Outlook: Bullish Cypher to Bearish GartleySUNE is nearing the completion of a bearish cypher pattern after breaking the bullish Wolfe wave confirmation line and retesting. This presents an opportunity to place a long position. The next pattern to look for if this is filled and completed is the bearish Gartley pattern. Depending on price action, I may be taking both of these trades. I will update the idea accordingly. Cypher PRZ Confluence: Bullish Wolfe Wave on larger TF .786XA 1.272BC Projection 2.5AB=CD MA200 Support Gartley PRZ Confluence: .786XA AB=CD 1.272BC Projection
S
by glennmercer