Wednesday, 1 August 2012

NZD/USD 1 AUGUST 2012


NZD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg
We have a new B high for the AB swing.

FOR TODAY:
We need to wait for a retracement down to the 618/786 of this swing for a long trade setup, else if price rallies beyond the B, then we need to wait for a new B high to form.

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

SHORT: Will be going short only IF:
No short trade setups during the retracement.

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

LONG: Will be going long today only IF:
We need a retracement down to the 618/786 of this swing for a long trade setup.

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

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