Trade Plan for 13 October 2016
-Daily Chart
Price Action
Price broke through trend line ,Price failed to break the 0.7061 psyc level,Price could be forming a head and shoulder patten
Market
A change in the market direction is observed by the 21 and 55 EMA indicating a start of a bearish market
Stochastic
Stochastic is currently oversold
Planed Entry
For all bulls
Wait for price to break through the 0.708600 psyc level and test it as support
Entry: 0.708600
SL :0.703517
TP :0.724946
For all bears
Wait for price to bounce off the 0.7300 psyc level forming a double top or lower low
Entry: 0.72000
SL: 0.735916
TP : 0.671401

NZDUSD Daily

-Daily Chart Price Action Price broke through trend line ,Price failed to break the 0.7061 psyc level,Price could be forming a head and shoulder patten Market A change in the market direction is observed by the 21 and 55 EMA indicating a start of a bearish market Stochastic Stochastic is currently oversold

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