How to trade this plan
1. Support and resistance. Support(green area) and Resistance(Orange red area).
2. Develop a bias based on whether you are a Bull (enter at the green area) and Bears (enter at the red area) looking at the 21 and 55 MAs for market direction and 5 and 8 MAs for price action.
3. Look at stochastics on, Daily H4. Look at M15 and M5 for possible role reversal zones at support or resistance zones.
Crosses indicate possible target.
Arrow indicate possible direction of price.
*I am a bear on the Euro and always looking for sell opportunity on this currency. Seeing as stocks up= commodity up. Risk on for the NZD.
Price on daliy chart between Resistance-MR1 @1.56 Psych level. Support-MPP @1.53
SL- 1.57 TP- 1.51