Hey traders, I hope you're good here is the possible analysis of the NZDUSD . As you can see there's two possible scenarios present on this chart. Main trend shows to be an uptrend and at this moment we see a retracement in form of a flag.
Scenario number 1 presents: If the price is able to broke the red rectangle and retraces on it we can use it as a BUY ZONE and taking the example of TP and SL suggested on the trade idea. Do not risk more than 1-3% of your capital. RISK MANAGEMENT.
Scenario number 2 presents: If the price is able to broke the flag and it FORMS A HIGHER HIGH from the previous HIGHER LOW. It would be our validation to continuation. We will wait for the price to retrace and it will POSSIBLE touch the FLAG USING IT AS RESISTANCE then we will place our BUY. You can take the TP and SL suggested on the chart. Do not risk more than 1-3% of your capital. RISK MANAGEMENT.
This analysis is also based on the sentiment of the DXY and the weakness that the dollar as presented on the last 4-8 Weeks.
This is not a FINANCIAL ADVISE. I do recommend used this as an IDEA to support your OWN ANALYSIS.
Comment what you think about this idea and support with a LIKE if you got some value out of this!
Scenario number 1 presents: If the price is able to broke the red rectangle and retraces on it we can use it as a BUY ZONE and taking the example of TP and SL suggested on the trade idea. Do not risk more than 1-3% of your capital. RISK MANAGEMENT.
Scenario number 2 presents: If the price is able to broke the flag and it FORMS A HIGHER HIGH from the previous HIGHER LOW. It would be our validation to continuation. We will wait for the price to retrace and it will POSSIBLE touch the FLAG USING IT AS RESISTANCE then we will place our BUY. You can take the TP and SL suggested on the chart. Do not risk more than 1-3% of your capital. RISK MANAGEMENT.
This analysis is also based on the sentiment of the DXY and the weakness that the dollar as presented on the last 4-8 Weeks.
This is not a FINANCIAL ADVISE. I do recommend used this as an IDEA to support your OWN ANALYSIS.
Comment what you think about this idea and support with a LIKE if you got some value out of this!