week50 ( -60, -130) NZDUSD staying patient is the way to go


In this situation, price had fell for several days but

1) Price is reaching the bottom of a Day channel
2) there is a strong confluence of MY levels.

I have been through this type of situations several times; I had a suspension that price will reverse from around this zone. What will be tricky would be from getting stopped out within the few days leading up to an all important RBNZD news.

As written in the chart will be my proposed way of tackling the situation.

Components to trade the reversal were there, but I need to show more fitnesse by being smarter leading up to the big event.

week50 NZDUSD -40 -70 made a mess let the reversal come to me 131214


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s