New Trading IdeaHi everyone,
New Idea Trading Short NZD
Market Structure: Bearish
Bearish Chanel: OK
Below Moving Average: OK
Break Trend Line and Support: 0K.
Target= 0.97358
Stop= 0.6550
Risk 1%
Shortnzd
Shorting NZDJPY I am looking to short NZDJPY.
Originally price was making a higher highs and higher lows.
Price then entered the monthly/weekly resistance supply zone.
Price than formed what appears to be a double top, and price has been unable to break through.
Also a double top at the end of an uptrend can serve as a bearish reversal pattern. That along with price respecting the supply zone is a strong
confluence.
Price made a bearish move out of the monthly/weekly supply zone and formed a new low. This is known as a break of structure, price is expected to reverse it's trend.
When a break of structure occurs, price is expected to retrace to at least the 50.0 fib level to confirm this break of structure. Price ended up retracing to the 61.8 fib level and formed a doji candlestick (this also signals a possible reversal), ultimately forming a Lower high.
Now I am price to make another move to the downside.
EURNZD Long AnalysisTake a look below you will see the previous analysis of this pair.
Originally price formed a double bottom.
Price retraced to the neckline as expected.
After the retracement priced formed a doji on the daily (signally a possible reversal after the downtrend/sell of).
This area was near 61.8 fib level, which is where price respected and found support at this level, then began it's push up.
Here is an image of the previous analysis, performed on March 27
NZDJPYI think NZDJPY, is a bearish swing trade. I'm expecting price to continue the continuation and create a right shoulder for an IHS formation on the monthly timeframe.
nzdjpy triple topThe pair has formed a triple top in last months and now it will drop towards the 200-day simple moving average at 68.8, it could be the first target of the bearish impulse because if that moving average will be broken nzdjpy could reach even 66.00 which is one of the most important support zones.
New Zeland economy is not performing very well and the RBNZ will lower the interest rates in early 2021, the LSAP purchases programme could be enlarged and this will reduce the NZD value, the GDP in the second quarter fell 12.2% and is expected to be -0.5% in 2021, so the new zeland is in a recession phase; The Bank of Japan will try to reach 2% inflation next year , the economy is still in a severe status but it is picking up especially the exports.
The trade has a good risk/reward ratio , anyway use a proper money management.
Enjoy your trading!!!
Good reversal pattern on NZDUSD - sell angle mirrorOpen sell position on angle mirror at NZDUSD - 0.6741
SL - 0.6775
TP - 0.6665
RRR - 1:2
NZDUSD Short IdeaHello Traders,
Price is struggling at the top and forming reversal pattern, we also have divergence on macd. Look for sell as much higher as you can.
Good luck!
Cheers,
Jonas
NZDUSD Short IdeaHello Traders,
Price didn't respect the trend reversal pattern and formed a new high, Now we saw some impulse to the down side and trend continuation is forming. Watch to sell as much high as you can.
Good Luck!
Cheers,
Jonas
The Kiwi is Looking All Black and BlueSimilar fundamental reasons underlie my bearish bias on the Kiwi. The bidirectional monetary policy impacting rate differentials being the most meaningful.
Further, technically, one would expect some material levels within the next handle, as evidenced by my red support line which roughly marks out the neckline of a head and shoulders top. Finally, with the MACD turning bearish on such an important trend-line, one has a reasonable argument for action to take some risk.
SHORT NZDUSD: +2 STANDARD DEVIATION PIVOT POINT ON DAILY & H1Also as additional technicals to support the short NZD$ view:
1. On the daily, weekly and H1 NU currently Trades (and at 0.73) close/ at to its +2 standard deviation lines, these are highly resistive.
- Assuming NU trades mean reverting +2SD means there is a 95% chance of a price reversal/ 95% of all prices should be below the +2SD channel lines (e.g. NU highly likely lower from here).
-- And as you can see by the Circle Yellow highlights NU has held this +/- 2SD discipline in the past so is highly likely to maintain these levels in the future.
2. Also NU trades significantly above its 60, 120, and 250 Moving Averages on 1h, 4h, 1D, 1wk - this also signals strong overbought prices, where selling has a higher probability of success.
*Be sure to check the attached post "SELL NZDUSD @0.73 - TP 700PIPS: BREXIT, RBNZ, FED & USDJPY HEDGE" for NZDUSD short fundamentals*
SELL NZDUSD: +2 STANDARD DEVIATION PIVOT POINT ON DAILY & H1Also as additional technicals to support the short NZD$ view:
1. On the daily, H1 and weekly NU currently Trades (and at 0.73) close/ at to its +2 standard deviation lines, these are highly resistive.
- Assuming NU trades mean reverting +2SD means there is a 95% chance of a price reversal/ 95% of all prices should be below the +2SD channel lines (e.g. NU highly likely lower from here).
-- And as you can see by the Yellow circle highlights NU has held this +/- 2SD discipline in the past so is highly likely to maintain these levels in the future.
2. Also NU trades significantly above its 60, 120, and 250 Moving Averages on 1h, 4h, 1D, 1wk - this also signals strong overbought prices, where selling has a higher probability of success.
*Be sure to check the attached post "SELL NZDUSD @0.73 - TP 700PIPS: BREXIT, RBNZ, FED & USDJPY HEDGE" for NZDUSD short fundamentals*
