Friday, November 23, 2012

NZDUSD Triangle Breakout NZDUSD Triangle Trade
On hourly chart, NZDUSD is about to break a triangle. 200EMA & 100EMA are both in middle of the triangle. 

I will closely watching on which side it break to define next target. If it break upside, then highs of 19-Nov comes into picture. If it break lower, then lows of 21-Nov comes into focus.

I would prefer taking this breakout trade on Monday but I might open a small position it breakout happens today.

--------------------------------------------------------------------------------------------------------------- NZDUSD Triangle Trade

UPDATE at 17:40GMT: NZDUSD long trade came out very well. I went long right at break and booked my profits at the horizontal line.

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