Based on last weeks data and assuming the strength/weakness continues this week I have put together some pairs to keep on the radar for possible setups using pivot theory.
1. The blue rectangles are showing possible W-M2 to W-M4 bullish trade zones or W-M3 to W-M1 bearish trade zones.
2. The long black lines are M-PP’s on the charts that have them so watch those zones as well to be respected by price.
3. The long Red/Green bold lines are Monthly Pivots profit zones that price could hold price up/down.
*Move into minute charts and trade your preferred setup for an entry if your bias matches these setups.
*Let the 4HR stoch cycle into position for 1-2 days if need be & watch the blue 5 ema.
*Find support & resistance levels to support an entry as well.
*Watch for any fundamentals to support or void an entry with any setup.
>This week could highlight the Commodity Currencies as the strong ones to trade, watch oil as well for clues.
>Keep an eye for price to respect the Monthly M4 & R2 Red zones highlighted which are close to the W-M4 targets.
>These setups are risk on so keep an eye on the equity markets as well for risk appetite.
Lets see how it plays.
Note: At the end of each week I post results for the current weeks price action within the original post for those interested to study.
Results Post Analysis:
The white lines represent price action that took place close to actual levels.
The NZD did continue its strength this week if you were a buyer of Kiwi.
The CAD had a pullback followed by buying interest once again.
The AUD traded softer this week and was seen in an AUD/NZD chart.