EURNZD - 4 - 8 Jan Week trade opportunities for reference
This is a summary of the trade opportunities during this week according to my Trade Rules:
1- Momentum
2- HTF close with momentum direction
3- 1H close above / below previous candle in momentum direction
4- Targets for TP points from Week Trade Plan
EURNZD
Jan Week 4 - 8
- With last week failure to sustain the bullish momentum above the 1.7180 and rejection confirmation at 1.7220, EURNZD ended last week bearish at Support zone at 1.6950/80.
- EURNZD started this week with retracement to the next resistance zone 1.7080/1.7100 (Expected as per the weekly trade plan posted) and rejection confirmed at the zone for bearish continuation and retest of the support zone at 1.6950/80 TP1 and break to test 1.6880 TP2 and 1.6780 TP3.
- The COT report and Seasonality of NZD currency supported the bearish momentum to reach TP2 and treated any rise as opportunity for Shorts.
- Highlighted 3 opportunities for Short according to my rule of having Momentum and 1H close in my direction and as per my Weekly Plan.
- Check 4H TF you will find that 4H candle close is Bearish and closing below previous candle.
Weekly plan:
Jan 5 Update:
Jan 6 Update:
Jan 8 Update:
1- Momentum
2- HTF close with momentum direction
3- 1H close above / below previous candle in momentum direction
4- Targets for TP points from Week Trade Plan
EURNZD
Jan Week 4 - 8
- Previous momentum: Bearish
Week Close: Bearish
Range: 284 pip
- With last week failure to sustain the bullish momentum above the 1.7180 and rejection confirmation at 1.7220, EURNZD ended last week bearish at Support zone at 1.6950/80.
- EURNZD started this week with retracement to the next resistance zone 1.7080/1.7100 (Expected as per the weekly trade plan posted) and rejection confirmed at the zone for bearish continuation and retest of the support zone at 1.6950/80 TP1 and break to test 1.6880 TP2 and 1.6780 TP3.
- The COT report and Seasonality of NZD currency supported the bearish momentum to reach TP2 and treated any rise as opportunity for Shorts.
- Highlighted 3 opportunities for Short according to my rule of having Momentum and 1H close in my direction and as per my Weekly Plan.
- Check 4H TF you will find that 4H candle close is Bearish and closing below previous candle.
Weekly plan:
