NZD/USD -
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Price bounced out of the B low late yesterday into the
Asian session.
FOR TODAY:
Today we will look for resumption of the rally to test
7918, a break here will open up 7930/50. We will look to buy after a dip and a bullish cs
formation.
Shorts are considered if we get failure circa 7918 which
will be considered a DD entry.
If we don’t get the setup we are looking for then we
don’t trade.
SHORT: Will be
going short only IF:
We need failure circa 7918 which will be a DD entry,
good for a 100 pip fall, else higher up at the 618/786 of this swing. Place
stops 13 pips above the cs formation, max 1 % risk.
If we don’t get the setup we are looking for then we
don’t trade.
LONG: Will be
going long today only IF:
A dip followed by a bullish cs formation will initiate a
long trade setup. Limits here will be 50-60 pips since it’s a shallow bounce,
Stops will be 10 pips below the cs formation.
If we don’t get the setup we are looking for then we
don’t trade.
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