NZDUSD H4 Chart
NZDUSD D1 Chart
Could be a pin bar forming at resistance level. 4H trend shows a short term up trend but the daily short term trend is a down trend. Should we classify this as a down trend or a uptrend?
What’s your take on this guys?
Danger will robinson, danger.
Hi,
I understand that it might not look like an A setup but would you look at this pair as a down trend or an up trend?
I also would like to know the same, a similar setup formed yesterday on GBPNZD
- Price hovering on key daily levels
- Pin Bar on 8 Hr Chart
- Price is at swing low of uptrend
only reason i did not enter not sure if uptrend or down trend ? Could have had a nice Win at 1:1 R:R … was this A+
I would like to appologise as my post wasnt helpful. On that note,
It’s in a long term down trend but it is currently aggressively in an up trend. The “pin” if it forms will be small and i think the market is more likely to try to make the range and go to the more significant BRN level of 0.8400.
IMO its maybe worth a punt for a small size for a 1:1.5 RR trade from there it is now but it not great, the A+ would be something fun happening around 0.8400 later this week.
Thanks for putting this up. i will now keep an eye on it myself for a possible A+.
So you’re saying the real A+ that you would consider trading is another strong resistance at the BRN of 0.84000 and which has a double top already formed on this level on the daily then lookout for a strong PA to short this pair on that swing high. Sounds like a better plan. With only few minutes left, I doubt that “pin bar” I highlighted earlier is going to form.
IMO its not A+. 100% this is really, really important. Draw S&R lines first. Then use the candles to validate the line. I cant see a good S&R line that would support this candle, this is likely why it only made is 1 unit of distance before getting rejected.
Something i would like to ask to the group is “what is the offical line on if this is an up of down trend?”
I’m not experienced enough to say if this was an A+ but the daily trend looks like a good up trend to me. H8 chart you had there, the swing low was not taken out yet by price. So I think the uptrend is still in place too? Seniors help us out please? 
Hi Pip,
I had the similar support line with BreakForex on that pair. That area is not obvious on the H4 chart but its an obvious level on the daily chat zoomed out. What do you think?
Yep.
Also i can’t remember the offical line here on a pin but you really want it to be after a trend bar (little/no wick) so there was momentum then the next bar should be a trend bar also but got solidly rejected hence you get a pin. When this happens there is not much overlap in the two bars.
This “pin” has a lot of overlap suggesting there was not really much upwards momentum to start with thus the rejection doesnt really matter as much.
Hey, i just wanted to check something with you. The daily charts you have. What time of the day do your daily bars close?
What you guys think?
+good level
+BEEB (good size, bigger than the last ~5 bars)
+room to move
-against trend ( this is the biggest problem for me with this trend)
Hallo Adrian,
Mixing timeframes and trying to decipher which side the trend is will get you confused.
Analyse each timeframe separately.
NZDUSD D1 & H4 are currently just a bunch of chop; no clear direction/range. Not worth looking at for trades at the moment IMHO.
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Hallo BreakForex,
Where are your S/R’s?
Area first. Signal second
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Hallo Papagoy,
If it closed as a BEEB, it would be a range trade.
The swing before this has been up, so I’d personally prefer longs to shorts, but a BEEB could still make for a decent range trade.
.
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ok, I need to look at how my daily bars get generated. My daily graphs look very different to yours.
