Tuesday, December 4, 2012

NZDUSD Triangle Trade

myfxvoyage.blogspot.com NZDUSD Triangle Trade
NZDUSD H4
A triangle trade is coming up on H4 charts. Break on either side brings focus to next resistance/support area. 

Upper trendline is in place since 7-Nov and a break of it brings focus to area 0.8300. Lower trendline is in place since 21-Nov and a break of it brings focus to area 0.8178 and 0.8150. 



I plan to go long on break of upper trendline and will go short on break of lower trendline. 200EMA & 100EMA comes near to lower trendline so a break of it should accelerate down move.


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