Pa!
Major Trend Reversal Trading (Part 1)The basic premise of Major Trend Reversals, From Al Brooks Video Series. I will be trading this way for a while.
EU ShortPotential Major Trend Reversal.
1. Bull Trend
2. Test of Moving Averages (20 & 60)
3. Lower High formed
4. Decent Selling Pressure (Consecutive Bear Bars, seen visually, compared to previous Bull Bars)
5. Fairly 50/50 if it will break up or down, but I take the trade because my profit target is potentially 2 x's my initial risk, 1x.
NZD/USD (Kiwi) - ShortSo i know most traders have posted their analysis on this pair throughout the last week or two so i thought id throw up my own.
I got in just under the 0.75 even handle after the break and retest of the double top neckline , I could of got a better entry if i entered on the break and retest of the CTL which also created the Double Top but to be honest i missed it!
First Target has nearly hit but ill be taking this down to target 2 which is D1 at the 0.70000 even handle
Obviously some great confluences on this pair ill just list them below
Weekly Engulfing/ Bearish Marabozou
Daily Marabozou
CTL Break ( and retest )
Double Top
61.8 Fib Level
MA's still converged (plus just crossing on the Daily)
New Lower Low (indicating end of previous Counter trend)
