Trade plan 29 August 2016
-Daily chart
Price Action
Price just bounced off resistance
Stochastic just left overbought
Market
The 55 and 21 Moving average indicate a strong bullish trend and this is seen by the great angle of separation between the two moving averages but as we look at the price action movement the bearish candle just broke trough dynamic resistance which might indicate a trend reversal
-H4 chart
Price Action
Price bounced of resistance breaking dynamic support with strong bearish candle stick
Stochastic is just below the 50% line heading to over bought
Market
The 55 and 21 moving averages cross has not occur but price just broke through dynamic resistance which indicates a possible trend reversal
-H1 chart
Price Action
Price indicate a strong bearish movement in the market and a possibility of a pull back than a continuation of the trend
Stochastic is overbought
Market
The 55 and 21 Moving average cross has occur with a great angle of separation
Planed Entry
-waiting for a pull back on the H1 chart to either the 61.8 or 50.0 or 38.2 with a over sold stochastic

NZDUSD Daily

The 55 and 21 Moving average indicate a strong bullish trend and this is seen by the great angle of separation between the two moving averages but as we look at the price action movement the bearish candle just broke trough dynamic resistance which might indicate a trend reversal

NZDUSD H4

The 55 and 21 moving averages cross has not occur but price broke through both dynamic resistance the 55 and 21 Moving averages

NZDUSD H1

Stochastic is overbought Market The 55 and 21 Moving average cross has occur with a great angle of separation

One thought on “NZDUSD290816”

  1. Miles says:

    Nice analysis and charts, thank you Thabang. I also believe NZDUSD will head up to WPP DPP cluster and then down.

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