I am, and if you are, looks like it just broke through an important support level on the short term range. This triggered a bearish market condition and I will only look for short opportunities:
As long as the EURNZD trades below 1.7124 I’ll keep looking for short opportunities.
Trade Safe!
Raul Lopez
Forex Training
What do you think about the gap this Sunday after the US credit downgrade? I thought it wasn’t that bad, honestly when I saw the news Friday night I thought the gap was going to be larger… but its good after all, this way the market doesn’t screw up my analysis!
Anyway, just got the first signal of the week, and the winner was EURNZD, again… It is trading in a very clear bullish condition and looks like it will continue in this condition, at least until it reaches the next LT resistance level at 1.7429
Here are the details of my trade:
Entry: 1.7102
SL: 1.7013
TP: 1.7399
Trade Safe!
Raul Lopez
Forex Course
I don’t know about you, but I think the best moment to look for short opportunites its when the market breaks through and important LT support level and confirms it afterwards… this just happened with the Euro/New Zealand.
The EURNZD broke through important LT support level last week, it looked as if it was going to get rejected but it continued its way down giving us opportunities to keep looking for short opportunities:
As long as the EURNZD trades below 1.6649 I’ll be looking for short opportunities.
What do you think about the EURNZD?
Trade Safe!
Raul Lopez
Forex Course
The EURNZD is trading in a very clear bearish market condition, yesterday it broke through an important short term support level (1.6863) and triggered its bearish condition:
Trading plan:
As long as the EURNZD trades below 1.6863 I’ll be looking for short opportunities. If it forms a significant pattern with downward pressure around the resistance level, I’ll definitely go short.
Long opportunities should be ignored.
Trade Safe!
Raul Lopez
Forex Course
The EURNZD traded in between two long term levels for a while, but it now looks like it already broke the support level, allowing us to look for short opportunities:
If the EURNZD continues to trade below the broken level, I’ll look for short opportunities. The next LT support level is at 1.6941.
Trade Safe!
Raul Lopez
Forex Training
The EURNZD is trading right above the LT support level, I know the market is likely to get rejected again from that level, but I reckon if it manages to break this level down, it will give us nice opportunities to go short:
Right know it is trading just above 1.7413, if it breaks this level down, the next LT support level is at 1.6941
Trade Safe!
Raul Lopez
Forex Courses
I was waiting for the EURNZD to break the bottom of the range in order to start looking for trade opportunities, and guess what… this morning it broke through that range triggering a bearish market condition:
I’m currently looking for short opportunities in the EURNZD.
Trade Safe!
Raul Lopez
Forex Training
The EURNZD is probably the pair that I like the most today, it is trading in a very clear bearish market condition, it broke through both, ST and LT support levels and it is trading below every important level in the ST charts:
The next LT support level is at 1.7549
Trade Safe!
Raul Lopez
Forex Training
This one is another pair I like today. The EURNZD is in a very clear bullish market condition, it got rejected from an important LT support level, now it is likely to continue its way up until it finds the next LT resistance level around 1.9357:
I’ll be looking for long opportunities in the EURNZD.
Trade Safe!
Raul Lopez
Forex Training
Yesterday I wrote about these two trades, on Tuesday I went short EURAUD and yesterday I got a EURNZD to go long… these two currency pairs are positively correlated and most of the time both of them move in the same direction, I thought it was awkward to get opposite signals in positively correlated currency pairs… Anyway, I got stopped out on my second trade (EURNZD) and my first trade is still running, can’t say I’m safe yet, because it still has a long way to go (my TP order is at 1.3350 and it is currently trading at 1.3524, around +75 pips on my favor). I would feel more comfortable if it confirms the breakout of the ST support level around 1.3532, if this happens I will be able to move my SL closer to my entry level (otherwise I will have to close my trade before the weekend)…
Now, was it a wrong decision?
I don’t think so. A signal is a signal and each currency analysis is independent from each other. We can’t take trading decisions on one currency pair based on the way other currency pair is trading. It was a signal and I had to take it…
It’s all probabilities… I know that if I follow my system enough times, probabilities will make their job… I have always thought that my job as a trader is to make myself available to the low risk trading opportunities that the market offers me, aka: FOLLOW the system… If I do this, good results will come as a result…
Trade Safe!
Raul Lopez
Forex Training
Sometimes these kind of setups happen, the EURNZD and EURAUD most of the time trade in the same direction, both of them are positively correlated. Today, this is not true. You don’t see often these pairs trading in opposite market conditions, and it is even less likely to get signals on both of them on the opposite direction, well… just got that…
Yesterday I got a signal to go short in the EURAUD, it is currently at +40 pips… and today, a few minutes ago a got my signal to go long in the EURNZD:
The EURNZD is still an order though… lets see if it gets triggered:
Entry order: 1.8222
SL: 1.8173
TP: 1.8616
Trade Safe!
Raul Lopez
Forex Training
The EURNZD is trading in a very clear bearish market condition, since yesterday it broke through an important ST support level triggering its condition:
As long as the EURNZD trades below 1.8641 I’ll be looking for short opportunities.
Trade Safe!
Raul Lopez
Forex Training
The EURNZD has been trading in a bullish market condition since the 3rd of March, I haven’t been able to take my position here, but right now it is trading at a level where we could get our signal to go long:
It is trading at a ST support level, if I get something significant with upward pressure I will definitely go long here.
The next LT resistance level is at: 1.9200
Trade Safe!
Raul Lopez
Forex Training
The EURNZD is trading in a bullish market condition and only long opportunities are in play:
I’m currently waiting for a pullback before I start looking for long opportunities.
The next LT resistance level is at 1.9239
Trade Safe!
Raul Lopez
Forex Training
The EURNZD is still trading in a bullish market condition, it recently broke through an important LT resistance level triggering its bullish market condition:
The next LT resistance level is at 1.9239. 420+ pips away from where it is currently trading.
Trade Safe!
Raul Lopez
Forex Training