(you copy this stuff at your own risk ok)
Trading plan for Monday BUY NZDUSD
Daily NZDUSD showing a rising wedge of 1300 PIPS!! 1300!!!! And guess where it is…just turned the bottom. Strong resistance, so this would be a longer trade from here of say 3 or 4 days looking for at least 500 pips.
The 4 hourly chart helps us along as well… I reckon we could look for 200 pips bullish *BUT* look at the hourly chart…
Although the rise was strong, a bit of news caused a drop and very fast retracement. I think the true order should go in bullish @ 0.8743 with a stop loss @ 0.832 OR we could wait for it to break out of this wedge with an order at 0.839. However as I want to maximise pips and it’s not that different may as well set up for Monday with.
Order placed Sunday night update Monday Morning.
Not in progress yet.
SL at 0.831 – below the trend line 🙂
TP at 0.850 200 pips higher.
Short Term (100% profit achieved)
Buy at 0.8355
SL at 0.8325
TP at 0.8378
Aiming for a total of 200 pips!
Note that I buy at the turn of the current down.