Thursday, December 27, 2012

NZDUSD Channel Trade Setup

myfxvoyage.blogspot.com NZDUSD Channel Long TradeOn daily charts, price is moving up in ascending channel. This channel is in place since last week of July-12.

The move lower in kiwi has brought focus on lower trendline of this channel. On previous down moves, the channel has support price. 



200EMA comes along with the lower trendline. 

I expect the lower trendline to hold on any down moves and I plan to go long on touch of trendline for a move towards middle or upper part of the channel.


4 comments:

  1. Replies
    1. Hi Asfi, not yet. There's still some 40/50 pips down to go from current price of 0.8182.

      Delete
  2. okk bro I plan to follow this...can you tell what your sl..and entry price

    ReplyDelete
    Replies
    1. Glad you like the setup. Keep an eye on the channel on daily charts. I will go long on touch of it. SL should be 50-60pips below it. I will update on twitter once its triggered.

      Delete

Related Post