Analysis of The Market - NZDUSD (12th February 2018)

Bismillah.

May Peace be Upon You and Good Day!

As promised, my analysis of NZDUSD this week. 

Lets have a look at the Weekly Chart:

1. There are Divergence. Weekly have completed its Wave 3 and Wave 5 according to the Awesome Ocsillator. Means the market could be bearish. But! Confirmation at the area must be checked.

2. Weekly has broken its CB1 (Using FMCBR) 

3. Looking at EMA 50/100/200. The market is sideway. Not much activity. No Momentum @ Bollinger Band

4. Market still signifies its downtrend.

This is a bit tricky and we need to be more cautious..

Daily Chart.

1. No divergence in Daily.... shucks

2. CB1 has broken

3. Reentry after CSA in Daily.

4. The candle might be in a sideway motion for a few days.

4 Hour Chart

1. Momentum @ BB (CS closed outside of the band)

2. Look at A @ Awesome Oscillator. Stating that the downtrend momentum is still there.

3. Now, its a retracement move upward in order to create the last wave which is wave 5.

4. Where does the retracement target move. We will need to check the smaller Timeframe. M5/15/30.

Check for divergence and CB1 break.

M15 Chart

1. It has reached the TP2 Zone (0.72668 - 0.72752)

2. But it has never broken the CB1 yet. No confirmation of DT yet.

We will need to wait then

But to my understanding... i reckon that NZDUSD is still bearish.

Will need to recheck the chart before confirming my short position.

.....

the thing is im not patient. Ive positioned my position. NOW IM FLOATING. HAH! nevermind still can bear the float amount.

Hope this helps.

Leave your comments! :)

Cheers!

SalamTrader