Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! Transcript of Video Click Here to receive an email alert when Ross posts a new daily video I’m going to begin the day today on the New Zealand dollar versus the US Dollar [NZDUSD]. Starting here, on the Daily…
Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! Transcript of Video Click Here to receive an email alert when Ross posts a new daily video I’m going to begin the day today on the New Zealand Dollar versus the US Dollar [NZDUSD]. Starting here, on the Daily…
Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! Transcript of Video Click Here to receive an email alert when Ross posts a new daily video I’m going to begin the day today on the New Zealand Dollar versus the US Dollar [NZDUSD]. Starting here, on the Daily…
Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! Transcript of Video Click Here to receive an email alert when Ross posts a new daily video I’m going to begin the day today on the New Zealand Dollar versus the US Dollar [NZDUSD], starting all the way out…
Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! Transcript of Video Click Here to receive an email alert when Ross posts a new daily video I’m going to begin the day today on the New Zealand dollar versus the US Dollar [NZDUSD]. Over the past several days,…
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The NZDUSD has been in a long term uptrend quite frankly since bottoming out in early 2009 recently capping at multi-year highs at .8300. There has been a turn down from those highs and is now showing signs of potential reversal on multiple compressions.
Begining on the Daily chart below there has been an open/close below the daily trend line that originates from March of this year. This O/C candle also forms below the previous resistance back in April and before the highest high. Looking forward, a few weeks, if the pattern persists we could set up a Head and Shoulders on the Daily….only potential at this time.
On the 4hr chart we can see an intraday climb back under the
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There is a difference between potential trend change and actual trend change. Potential trend change tells you that there is a strong likelihood that the trend could change, actual trend change tells you that the trend has already changed and would be the focus of your attention. In my last two commentaries I spoke about identifying the trend and identifying actual trend change. So now let’s focus on potential trend change.
So, how do you tell them apart? That is what we use technical analysis for!
There are many indicators that point to potential trend change, or instance, candlestick formations. Candlestick formations are a single candle identifier of potential trend change. Formations such as the Hanging Man, Shooting Star or Engulfing candle could point to a possible shift from
Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! This is a classic trend break pattern of the long uptrend. Open and Close below the trend line and retest before the next fall. Resistance with the trend break is backed up with the .786 fib of the most recent…
Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! Sell posted at 9:59am ET sell NZDUSD at .7305. As discussed in trade room sell is based on 4 hour trend line break pattern. Also testing .50 fib of closest high to low on the 30 min chart. NZDUSD…