Wednesday, 18 July 2012

NZD/USD 18 JULY 2012


NZD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg
Price gave us a dip followed by a bullish cs formation yesterday, but failed to take out 8000. We need a break of 8000 to move higher.

FOR TODAY:
We will look to buy after dips followed by bullish cs formations. Shorts are only considered at the BF786 after bearish cs formations.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:
We can only consider shorts after a test of the BF786 followed by bearish cs formations.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:
Today is another DA86 trading day where we are looking for dips followed by bullish cs formations for long trade setups. Place stops 10 pips below the low of the cs formation, max 1% risk, limits are up at 8019.

If we don’t get the setup we are looking for then we don’t trade.

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