NZD/USD

Technical analysis trading comes in many different varieties and favours. There are trend lines, elliott waves, breakouts, pattern formations and so forth. Today i introduce another concept in technical trading. It is called trading in the box. Using price action, i have drawn 2 boxes. NZDJPY was trading in box 1. And now it has jump up and is trading in box 2. So the key to trading NZDJPY is to trade within box 2. Buy near the bottom of the box, and sell close to top end of the box. Rinse and repeat. Until NZDJPY decides to move out of the box, into another new box.

NZDUSD is trading at the bottom of the range. Might be breaking out to the downside soon.

Don't expect a break... look what market has drawn for us.

After the H&S on TF4, now we have a bullish Harmonic on the bot of the range. SL below last low @ 0.8170, TP back to 0.8350 / 0.8400

Enjoy pips : )

I like the looks of that 4hr candle

* on the buttom of the range

I entered long just now @ 0.8195 SL 25 TP 150 R:R = 1:6 : )

Im with you on that long, would you say the same goes for AUDUSD
Thats a stella R:R, dont you think SL is a tad close?

SL was really close indeed... the lowest was 0.8174... so just 4 pips left.

The great thing about harmonic is that when you are into the Potential Reversal Zone.. you do not need to put your SL too far.

You have to consider that the opportunity will work or not... no need to risk more.

Ps: AUD would follow but I only stick to NZDUSD.

I think we are on the road with the bulls again.

If you guys have missed that one, it's not to late to try to catch a pullback.

Now we are on the buttum of the range @ 0.8150.

Let's see what direction the market is going to take from now.

http://charts.mql5.com/3/137/nzdusd-...-division1.png

Area to watch

Just shorted NZDUSD & AUDUSD at current level as 75% traders are long mixed AUD et NZD.

Swing trades... so TP is 300 pips.

mind posting chart?

What's SL?

SL is above high from Day-1

NZDUSD: Live chart
http://www.myfxbook.com/forex-charts/NZDUSD,D1/5606

AUDUSD: Live chart
http://www.myfxbook.com/forex-charts/AUDUSD,D1/7439

yep, this is a very good opportunity to go short especially if we close below the 200 SMA on the daily which will position us below a huge resistance (0.8200) with a long weekly candle. short @ 0.8150. stop: 0.8250, target: 0.7800-0.7850 area

Still consolidating

NZD double bottom off of the 50% fib retracement and downtrend support

Do you have a chart? I am focusing on NZD for my weekend research, looking to definitely get more involved in NZD as market expectations gather for a rate cut next year. My chart is attached. Would like to ideally be short EURUSD as well as EURNZD.

This is a tough pair to figure out at the moment - very mixed

Month is showing long.............

weekly is showing mixed - trend is long but PA is short - looking for a push long before going short again..............