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Well hello traders good to be back with you as we have a full trading day ahead. I was at my computer about 90 minutes ago and I was looking for a nice London open trade and possible London lunch trade and finish by NY open. So today we are going to look at the NZDUSD 60 minute chart. This trade is a planned London entry with a close just before the NY open.

Let us take a look at the trade plan and the chart we can see price has bounced off the 0.7200 price level so I placed a Fibonacci tool on the chart. I am looking for this to go to the 61.8 at the price of 0.7246 and look for a bearish candle formation and take the short entry as we stay with the trend from the higher time frames. I am looking to take profit just before the 0.7100 price level at the take profit at 0.7120. I have placed the support zone on the chart and I would not be surprised if this take an over shoot lower. This is really a nice pullback trade as we wait for price to come to us, stress free that is the way to trade my friends.

Thank you traders and we will talk soon……..William

FX Instructor Forex Blog – For Traders, By Traders

One thought on “NZDUSD 60 Minute Chart Analysis”

  1. pippinusa says:

    Nice 1 hr change to down side. I agree with your thoughts and actually looking to trade the 7200 up to your retracement for profit zone. Interesting to have Bull and Bear on same pair today. I am a bit worried cause of last day of trading keeping my stop close.

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