this is a weekly swing trade. we will need to wait to spot a reversal candle on the daily chart.
NZDUSD Making a retracement down
Sell at 1.67200 for a long term sell
Look to sell at around 83.00
I would like to see this pair climb up to the .73200 area and pull back to the blue box drawn on the chart. This is where we will look for our entry to buy. We will TP at the 61.8 level which will put us at .77000 :)
look to sell the break of yesterday's daily candle. we should see 350 pips as a retracement. sl should be at about 175 pips from entry making this a 2:1 ratio. Happy trading.
Head and shoulders forming, Great buying area is at 1.12700. TP - 1.14700
Place entries at 1208. Price will have to break and close above 1208. Once this happens we will soon meet 1242. Worst case set Sl to 1203 for a ~7:1 Risk/Reward Ratio
Same set up as our EURAUD. We can see that on the RSI price had been trending up, it broke out and the RSI is now about to re-test the trend line. Price is approaching a strong resistance area, expect to see a reversal candle, this will give up our sell signal.
We have a potential reversal on EURAUD, watch for a reversal bar either daily candle or weekly candle in the blue box. I do see this pair climbing up further but getting a strong rejection somewhere within the blue box. this will become our entry point. updates will be posted