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Sunday, February 21, 2021

NZD/USD - 22-Feb-2021 For Monday Me

NZD/USD - 22-Feb-2021 For Monday Me


Hi Welcome To My Trading View Analysis & Idea.

Note that I learn these through internet, research, and e-book (mostly content are same need high observation and understanding) for these past few days still I am new and on learning at Trading Forex.

This is my personal plan I put on Trading View for my Monday-Me (22-02-2021) And Also Next Week Me.
Still I wanna to publish this on public to see what I lack of and what I need to research & learn.

From the price rise to 106 pips, I thought maybe the price was too overbought and the market need to cooldown the Bullish price a bit before going further up, hence that's will forming a "Cup & Handle" pattern.
These the reason why I prefer Bullish bias.
But still need to wait for these condition meets before placing a Long entry trade for this pairs and made some rules for deciding some support & resistance .

Scenario for Bullish Condition :
- Red Candle Wick touch the "Support Box A"
- next is Green Candle Appears above "Support Box a" beside the Red Candle (which touched the box)
- a pull back of candle with 20 EMA line and not break it down
- Cup and Handle pattern formed "U" shape cup not "V" deep bottom cup
- 3 EMA line still fanning out
- no Candle Break down 20 EMA line and Break down "Support Box A"
- A Green Candle Body Break out "Resist Box A"

also there is a "No Entry" Scenario too. since we can't accurately predict the markets.

Scenario for "No Entry" Condition :
- Red Candle Body Goes Over the "Support Box A"
- Red Candle Body Cross over 20 EMA line
If These Happens At Tokyo Session & Sydney Session,
May reconsider about the Bullish Entry

if "No Entry" Scenario condition was fulfilled may leads Bullish entry not confident.

otherwise condition may change to Bearish if "No Entry" Condition was fulfilled plus more condition or reason to place Bearish entry.
which these bearish condition was :
- Candle stick body crossed 3 EMA line
- after crossed 200 EMA line, there is a slight pull back towards 200 EMA line before going further down
- 3 EMA line Crossed and Fanning out downside
- RSI & MACD on going down

Risk management for Bullish was placing stop loss (above or below) a bit of Support Box A, and take risk reward ratio of 1:1

These break out or break down may happens at Tokyo, Sydney or almost at London Session for trade entry to close trade within 4 hour before New York Session.

Take this note and see what happens 1.5 hours before London Session Begins.
"but I prefer Bullish" for trade entry to close trade within 4 hour

Let Me Repeat again.
This is my personal note for my-Monday-self, Still I wanna to publish this on public to see what I lack of and what I need to research.

If U happens to cross this idea.
Maybe U like it, give it a like.
Maybe Maybe if I lack of anything or this idea not working.
Comment BELOW, let me learn what I lack of in this idea and what I need to research.

Thanks for coming and Stopped by

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