Unlike AUD, it is NZDUSD which is completely invisible to down trend when looking at the weekly stick.
weekly
The current position is a difficult place to hit the YPP (S1) and the trend line. Because it is a range market, I'd like to think about long at the bottom of the range.
However, as far as EMA is seen, the closest direction is down. Therefore, long entry is a difficult place.
Unfortunately, I have not been able to trade so much this week, but I will also check off this time. I will wait for a chance of a short.
<< tactics >> 1-1) MPP (P) rose to 0.68568. It acted as a resistance line. short. The first limit is decided by referring to the WePP of the next week. The second limit is on YPP (S1) 0.67273.
1-2) MPP (P) rose to 0.68568. It penetrated it. If it functions as a support line, think of a long.
2-1) YPP (S1) 0.67273 penetrated downward. That worked as a support line. short. The first limit is MPP (S1) 0.66538 The second limit is above WePP in the next week above MPP (S2)0.65331.
2-2) penetrated below YPP (S1) 0.67273. It reached MPP (S2) as it was. Wait for a short entry point.
I would be grateful if you like it idea,give me follow or agrees!
------------------------- <Legend> -------------------------- Brown thick line: Yearly Pivot Points (YPP in the text) Light blue thick line: Monthly Pivot Points (MPP in the text) Green thin line: Weekly Pivot Points (WePP in the text) Indigo thick line: Horizontal line or Trend line seen by weekly or monthly Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily Indigo dotted line: outstanding round number. Red thick line: Untrustworthy line for me
Red curve: EMA 20 close Indigo curve: EMA 200 close Green curve: EMA 800 close Black curve: EMA 1600 close
x mark: Line which may not function ------------------------- <Legend> --------------------------
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