TRADE, NZDUSD, 14.9.2016
TRADE SUMMARY: NZDUSD stopping of the DEMAND ZONE + confluence with daily trendline was a good reason to buy the drop on limit even after the type of retracement that came.
iterating towards truth
TRADE SUMMARY: NZDUSD stopping of the DEMAND ZONE + confluence with daily trendline was a good reason to buy the drop on limit even after the type of retracement that came.
TRADE SUMMARY: NZDUSD dropped to far from its top after a strong run through daily resistances. The drop was deeper than expected and paused at the good DEMAND ZONE area.
TRADE SUMMARY: USDCAD has run a long way up without pull back. It has breached already one supply zone, and one resistance daily zone without stopping. With rejection and SFP like style, I have expected that this run might be over and we would have to drop lower. I was wrong and positive news took this pair higher, taking my stop by 1pip :). Next.
TRADE SUMMARY: ex demand zone hit, with ignition of the fake range breakout on h1
TRADE SUMMARY: looking for tired pa after initial SPIKE into first supply zone. Play with weak high, taken away. Vol and range was tight after spike, that was not a problem, but supply zone imo weak for this type of energy.
TRADE SUMMARY: after a runner back into mid-range, gold looked tired (three cons up days with decent size and volume). The idea was that the pair needs a breathing time to get back at least 50back. I was looking for initial short on first range created.
TRADE SUMMARY: nice reaction with spike convinced me that this supply zone is worth trying. It wasnt. Definitely a B play taken with A size risk.
TRADE SUMMARY: pair had a a beautiful ignition just at the area of previous demand. This presented an opportunity of confluence that could not be turned down.
TRADE SUMMARY: market presented the opportunity. I have identified a potential fade at the green line, but did not place order due to other correlated plays. The target was not pre-set so hard to give an opinion about exit now seeing the move.
TRADE SUMMARY: USDCAD presented a good SUPPLY ZONE with deep pocket and POC at 3090's. With first D1 wick candle and then second, it was a good candidate to look for short.