Today is First of the month , it open near monthly pivot MM3 . Bear is looking for MM3 to MM1 move.

NZDUSD Day ( 1 June , 2017 )

NZDUSD has reach last month Bull profit take zone MR2 then start it retracement . Bear is looking for potential MM3 to MM1 move about 0.71 - 0.68

NZDUSD H4 ( 1 June , 2017 )

Bear is waiting for lower low then sell at pullback

NZDUSD 15M ( 1 June , 2017 )

Entry time frame 15M Bear is looking for lower low then retrace to sell about 0.71 SL 0.72 TP 0.68

6 thoughts on “NZDUSD Trade Plan ( 1 June , 2017 )”

  1. Kash says:

    Daniel, thank you for your post. I am curious, could you please explain the reasoning according to Pivot Point Theory why if the Month or Week OPENS at MM3 or WM3 that it should fall/swing to MM1 or WM1? Thank you

  2. Daniel Chan - Forex.Today says:

    Thanks Kash 🙂
    Pivot theory First you must decided to be Bull or Bear . For weekly pivot Monday Bull is looking to buy zone WM2 to WPP target WM4 and Bear is looking to Sell zone WM3 to WPP target WM1 This is only the technical analysis. Whether price go up or down is depend there is more bull or Bear.
    For monthly pivot is First day of the month Bull is looking to Buy zone MM2 to MPP Target MM4 Bear is looking to sell zone MM3 to MPP target MM1.

  3. Maryna says:

    Hey Daniel, thanks for taking time to reply to our comments! From what I see, you are an USD bull based on your trade plans and that you stick with your bias. Based on your reply on a previous comment from me, I find it interesting that you don’t stay in your swing trades until it takes you out at your SL as many “mentors” suggest traders do, so I’m happy to see that you “cut losses quickly” by getting out of your trades and moving on to other pairs. I’ve noted that quite a number of USD swing trades for bulls have been failing and wondered how they managed this, but you cleared it up nicely. It also brings me to question what the purpose of a “hard” SL is (other than protecting money) when traders exit trades before hitting the SL?

    Majority of traders in this group are USD bulls based on fundamentals and all the “promises” of rate hikes, but this has failed quite miserably from my “perception” in the 2 years that I have been trading and also prior when I look at the history. Yes, USD increased the rate in Dec for the past 2 years, but in my humble opinion, this was done due to pressure and not data and why it came tumbling down afterwards. Of course, I base my comments on currency pairs mostly and not the commodity pairs. When I look at EURUSD/GBPUSD with all the drama these countries have, I find it super surprising that both these currencies are stronger than USD. I can only see the commodity pairs being weaker and that makes sense, but not due to a strong USD. Consumer spending/confidence in US are low as well as inflation, and by increasing the interest rate this will surely be bad for spending and the currency? Sure, it’s now summer in Northern Hemisphere, so that may increase spending, but it will be seasonal.
    So, my question is at what point do traders change their bias and anyone reading my comment can reply.


    1. Daniel Chan - Forex.Today says:

      Thanks Maryna 🙂 It is very good and thought full comment .
      For me I do not changes my long term fundamental on US bull. On the way up there is time that market over run , when that happen I stop trading dollar pair and go on Yen pair or other cross.

      1. Maryna says:

        OK, that makes sense now as you explained! Thanks Daniel and sorry for all my “long” comments to you, but not always sure if you will understand what I’m asking as my first language is not English either! Have a happy trading week!

  4. Daniel Chan - Forex.Today says:

    I believe Wayne mention many time in the webminar. As a trader one must have strong believe in his or her bias . I only changes my bias on USD bull when US Federal reserve changes their monetary policy. 🙂

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