Dear NZD/USD Trading Signal Traders
The trading signal from last time did not react to the 9800s as I expected it would. We saw a bearish rejection candle next day, which basically negated the signal given from the bullish rejection candle. Then, a lot of buyers rushed in and pushed the price higher and higher. As I have shown in my trading course, this was a classic fake break-out, which did mislead a lot of traders- including me. In the end of the day- it is a numbers game. So, if you do follow the rules I have revealed in my Scale-In strategy, you would be in a good P/L state.
The NZD/USD trading signal from today is long. I am seeing a pin bar (or bearish rejection). This is going to attract a lot of buyers on the daily time-frame. I will be looking to go long at around 0.6760. My stop-loss would be placed just under the pin bar’s tail at 0.7000. Depending on price action, I might decide to hold on to that trade. If I start seeing some rejections around the psychological level of 0.7000, this might mean either a short correction or a reversal.