Thhose who are with me in the NZDUSD sell trade, enjoy your profits. This was a great example on how to enter a trade based on ratio and structure.
Just remember that we are looking for a major reversal on the daily time frame by means of an ending diagonal structure. An ending diagonal goes hand in hand with ABC zigzag corrections. So manage your trade closely because we are not out of the danger zone yet. Only a break below wave 4 of the ending diagonal will confirm a renewed bearish trend which will bring price below 0.62.
These kind of trades are the trades you want to trade anytime they present themselves. I personally trade this both short term and long term. Which means that I use 50% of my position for intra-day targets and let 50% on the table for the long term move. If I got stopped out at break even we know that we will re-enter from an even better level.
In the meantime look for impulse-corrections and add once we see the continuation. Nothing moves in a straight line.
www.timstuyts.com
Just remember that we are looking for a major reversal on the daily time frame by means of an ending diagonal structure. An ending diagonal goes hand in hand with ABC zigzag corrections. So manage your trade closely because we are not out of the danger zone yet. Only a break below wave 4 of the ending diagonal will confirm a renewed bearish trend which will bring price below 0.62.
These kind of trades are the trades you want to trade anytime they present themselves. I personally trade this both short term and long term. Which means that I use 50% of my position for intra-day targets and let 50% on the table for the long term move. If I got stopped out at break even we know that we will re-enter from an even better level.
In the meantime look for impulse-corrections and add once we see the continuation. Nothing moves in a straight line.
www.timstuyts.com
