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Nzdusdlongsetup

NZDUSD LONG swing trade with 3 confluences List of confluences: 1: Weekly chart breakout and chart in market structure. 2: Weekly and daily Chart short to medium term trendline breakout. 3: Potential Head and shoulder formation on daily chart Summary: When we look on the weekly time frame, we can see a clear bullish market structure change and breakout. Usually after such a strong breakout we tend to see a very strong pull back which lasted just over two weeks in this case and is visible on the daily time frame as well. Most the traders who took this setup right after the weekly candle breakout had a strong potential of getting stopped out so its advise to wait a few days before looking for entries. When looking at the weekly and daily chart, we can see a breakout of a short to medium term trendline. After the breakout we can see a very strong pull back as stated above. Lastly we can see the potential formation of a head and shoulders pattern which further confirms out long basis on the NZDUSD pair. This trade will be left to run for about 2 to 3 week or until the target is reached, which ever comes first. Targets are set using Fibonacci. Lets see how this plays out.
Long
by NDOBObanks
NZD/USD Technical Analysis.Hello traders, NZD/USD is trading at 0.7003. The price is moving in a upward resistance and support wedges, after touching resistance level it is giving a small pull back but soon price can break its resistance level to continue its upward trend. The entry price for the pair is at 0.7020, 1st target is at 0.7053 and 2nd target at 0.7091. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Long
by rishililawat5
NZDUSD AnalysisPrice formed an order block (after Manipulation) at a retail resistance zone and, and made an impulse move in favour of the bears. We see that the slope of the down trend has changed signaling a change in momentum, to a more smoother trend. Whilst at this, price seems to be forming a bullish falling wedge (this pattern signals an imminent reversal to the upside if it appears in a downtrend). When making a further analysis into the wedge, we see that price has already given us 2 touches to the resistance trendline. Of which I believe, the current bullish movement is intended to give the third touch then drop to give us the third touch on our support trendline, which will be followed by an impulse that will break the wedge to the upside. Note that the second touch on the support trendline gave us another Order block. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial. #Trade_Like_A_Magnate
Long
by Magnatrio
NZD/USD Technical Analysis.Hello traders, NZD/USD is trading at 0.7008. The Pair is trading in descending resistance and support wedges pattern. As the price has already touched resistance level, it can give a small pull back and then break the resistance level to start a small up trend. If the price breaks the resistance level at 0.7012, it can start a small up trend and can touch its target price at 0.7052. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Long
by rishililawat5
NZD/USD Technical Analysis.Hello traders, NZD/USD is trading at 0.7242. The price is trading in resistance and support wedges and can break resistance level to start a new up trend. If the price breaks the resistance level at 0.7254 then it can start a new up trend and its targets will be at 0.7279 and 0.7312. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Long
by rishililawat5
1
NZD/USD Trading in upward channel.Hello traders, NZD/USD is trading at 0.7206. The price is trading in a upward resistance and support channel and can continue the same trend. As the price has touched its support level it can rebound back from here to continue trading in upward resistance and support channel. If the price breaks 0.7217 price level, it can continue its upward trend and then its resistance level at 0.7277 will be the target price. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Long
by rishililawat5
NZD/USD Upward Channel Trade.Currently, NZD/USD is trading at 0.7127. The price is trading in upward resistance and support level and can rebound back to resistance level after touching support. If the price rebound back after touching support, then 0.7120 is the best price to enter long position and the target price will be 0.7196. Mostly, channel trades give a good risk to reward ratio and can give decent profits. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Long
by rishililawat5