NZD Summary

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = NZD : Day Chart (Posted Below)

The end of another week in the markets and the end of the first third of the year (Already)
How is your trading plan going ? What do you measure your self with or against ? Do you analyse your day, week or month ? If not why not ?

Over the last 2 weeks we have been following the NZD and as I write we have seen, followed or traded over 400 pips of profit. You will not have got all of them and may of had a few scares along the way. Trading is a learning curve and a journey, you will not get there over night. If you stop you will never get there, so keep going and keep learning.

How do you eat an elephant ? One bit at a time.

Our NZD trade still has some strength left in its move upwards and you will see from MACD, that since the crossover of the signal line we are still increasing the gap between the lines, showing more momentum. Our RSI has not yet reached the 70 line where it has been previously, along side stochastics which has suppassed the 80 line, but still pointing upwards. Stochastics has not usually gone greater than 95, so a change of direction could be around the corner. As mentioned earlier in the week we have VI, RN and MOB above providing stiff resistance, the RN is at a breather level on the weekly chart.

All said we need to manage the trade closely and keep hold of the pips we have gained. As the steam moves out of the move, look for a shorting position to enter.

Have a great week end, get away from your screens for a day or so and come back fresh for the next week ahead, speak to you all Sunday night.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

Follow our other blogs
http://www.fxcps.eu/
http://www.fxcps.co.uk/blog
http://www.fxcps.com/blog/