Good Evening / Morning Dynamic Traders
"Better to have tried and failed, than not tried at all"
Cross = NZD : Day Chart (Posted Below)
As expected from yesterdays post we had a RED candle today of 100 pips from high to low, however its momentum was lost towards the end. If we do have a reversal in trend, we have some pips to collect before price gets to its 1st breather level around .5467.
Our MACD line has yet to cross its signal line, but the histogram is on the brink of 0. RSI is now below 65 and stochastic s are under the signal line having crossed under.
Looking longer term and we are looking at the day chart. We had convergence prior to the 13 day rise in price. With price turning we have a place to measure from, which places the "eclipse" as shown on the chart, which coincidently is a 123786. The indicators are saying a fall in the price, but that far ? and over how long ?
The "MOB" sits just above the recent high again indicated on the chart.
Please do your own analysis before placing a trade.
Courtesy of Advanced Get / E Signal
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