I expect an opportunity to go long on NZDUSD to form in the near future. As you can see from the trendlines we have a clear ascending channel that price is respecting very nicely. Before we go long we have to establish the following:
1) Wait for price to reach the bottom trendline
2) Determine whether the trendline will hold (ensure we do not have a bearish closure breaking below the trendline)
3) Look for price action confirmation to go long: bullish engulfing candle, bullish hammer, etc
The target will be the upper trendline.
1) Wait for price to reach the bottom trendline
2) Determine whether the trendline will hold (ensure we do not have a bearish closure breaking below the trendline)
3) Look for price action confirmation to go long: bullish engulfing candle, bullish hammer, etc
The target will be the upper trendline.
評論:
We are hitting the bottom trendline. Waiting for price action signal to go long now.
交易結束：目標達成:
I have taken a long position based on a price action signal on the 15min timeframe. I am targeting the upper trendline, and placing my stop below the previous swing low point at around 0.68995.
交易結束：達到停損點:
Stop reached