NU Long

by 09:46 0 comments
Tried a NZD/USD long yesterday. A triple top entry which was going ok until FOMC hit and made a right mess of it. Stopped out within a few minutes of the announcement. Looking at the charts again with fresh eyes, it makes sense where the high was printed for the day.

NZD/USD 1hr Cumulative Zone

It isn't very apparent from the cumulative chart, which was where I did my analysis. The chart was lacking any decent cumulative volume spikes in this price area so I settled for the yellow zone above. It would've been better to look to the 1hr HLC chart and my second PnF chart where I carry these zones from. 


Here we can see one of the highest volumes in this area and this where I should've been paying attention. Once I carry this zone over to the PnF chart we get the following;

NZD/USD 1hr PnF Zones

A steady rise up to the 50% of this zone and a rejection at this area. Whilst I had absolutely no way of knowing what way FOMC was going to take it, this should've at least acted as a warning sign.

Pretty sure that's me finished for the year! I'll get up to date progress charts up before I leave.





28. Forex. Trading. Music. Beer. Food. Travel.


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