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SWISS FRANC / NEW ZEALAND DOLLAR

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CHFNZD trade ideas

NZDCHF - D1NZDCHF W1 - Long downward trend, in which the highs are not rewritten, which makes it likely that the correction will end and the movement will continue down to the levels of 0.51260 D1 - Formation of a three-wave structure, which can lead to further movement down to the lower border of the trend channel. Locally to levels 0.52920. What can you expect? You can consider entering from the level 0.54070 - 0.53870 with further movement to the target 0.51900. Targets 0.53440 - 0.53040 - 0.52430
Short
by Trade_Hive_Signals
NZD/CHF Short trade entry - Wedge breakoutWe just had a clean breakout of a wedge to continue a strong downtrend - will look to short if we mitigate our supply zone on a retest of the wedge and create a LTF CHoCH Coinciding with my previous post, we have been sustaining a healthy downtrend while mitigating our intended supply zones. Price has now shown higher time frame signs of reversal and created our first major CHoCH. We now look for: 1. A major BOS (currently hovering around the former low) and subsequent supply zone mitigation 2. Downside fakeout and strong support at .5435 level to breakout of wedge to the upside and flip mitigated supply zones Don’t forget from last post, we have a massive liquidity pool below us at our weekly demand zone!
Short
by ReigningTrades
2
Follow your Plan! Must have rules to avoid being liquidityFollowing your trade entry rules is the key to avoiding Following your trading plan is the key to being a consistent trader! Make sure you have thought out objectives that are being hit prior to entering a trade. We want to create a system where once your initial signal is hit (such as a HTF supply zone mitigation, strong level hit, FVG mitigation), we then have further rules that help us avoid false breakouts/liquidity grabs and stop loss hits. The simple truth that all traders eventually find out is the market doesn't do what you expect it to do when you expect it. Even the most advanced and sound calculations will be losers if the point of entry is treated as a secondary factor. Our psychology refuses to account for smaller (LTF) price fluctuations but they happen at usually prior to doing exactly what we predicted! So, have your strict rules - a set of guidelines that this, this, and this need to happen before entering a trade - and if they do, you did your job win or lose. On this trade specifically, I had pointed out the potential for a wedge breakout and had a bias toward the downside. As mentioned and as I highlight above, if I would have entered the trade prior to awaiting my entry signals, I would have been stopped out on a major liquidity grab to the upside. Therefore, when preparing for the trade, I identified upper zones that were potential price objectives that went against my bias. If price did reach these zones and other factors were still supporting my former bias, this upper liquidity grab would be an even greater opportunity for my short trade - but only once the LTF entry signals start blaring. TL;DR: Even though the HTF signs and confluence for a drop were there, I awaiting a lower time frame CHoCH and reversal (my trade entry rules) in order to enter the trade. This led me to a winning trade as opposed to being stopped out earlier for a losing trade. This is the key to consistency!
Short
by ReigningTrades
1
NZDCHF Sell near the 1D MA200The NZDCHF pair has been trading within a Falling Wedge pattern since the March 28 2022 High. As you can see the two so far corrective waves have followed a similar Lower Lows structure. The price is currently on the bullish leg to the Lower Highs trend-line, supported by both the 1D MA100 (green trend-line) and the 1D MA50 (blue trend-line). The 1D MACD Bearish Cross that is about to be completed calls for a sell preparation, as every Bearish Cross above the 0.0 level since March 2022 has been a sell signal. The closer the price gets to the 1D MA200 (orange trend-line), the more efficient the sell entry will be. We will target a projected 1D MA50 contact at 0.53500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
2
$100k Challenge - NZDCHF Short - E24 T1Hey all! After the initial group of trades out of the full trading plan, trade frequency has decreased significantly through the challenge, and we finally have a new one I consider worthy of a bullet hahaha. As always, here are the notes from the trading journal, enjoy! Overall the market has maintained a constant bearish structure, drifting in favor of the safe-haven Swiss Franc, it leads me to believe there might be some fundamentals favoring a risk-off environment, but honestly, I have focused mainly on the technicals as time for catching up with fundamentals has been limited. After the market tested the last lower low, it strongly rejected the area, leaving us with strong selling pressure clues, both on the H4 and the Daily. On top of this, the technicals I follow do signal a potential continuation, so I decided to take this short trade. The stop loss is located slightly above the last high, which is an unconventional approach as it's within the descending channel, however, my logic for this is that if the market pushes to the upper bound of the channel, I'd rather consider a second entry with a way better risk-reward, and have a tighter initial SL now in favor of a > 1:2 take profit 1. Kind of a risky move, but personally I think it's worth it. Regarding trade management, a standard approach of TP1 is located at the nearest support, and TP2 is open. Risk-wise, we're sticking to the original 1% per trade risk management.
Short
by FernandoBorea