NZDUSD has enjoyed a nice uptrend since July 10th. The trend line has not been broken and the pair is looking a little bearish now. Looking at the 20 period SMA, the line is also turning south and the Bull charge looks to have ended. Let’s take a look at the H4 chart for NZDUSD below.
This is another trade idea generated by the Elite Swing Trader.
As always, I like to see the Bear take charge before jumping into position. So below are the orders for this trade idea.
- Sell Stop Order: 0.67222
- Stop Loss: 0.67486
- Take Profit: 0.66970
It’s always wise to trade with the trends and one way to determine the trend direction is looking at the price and the 20 period SMA. Just stick to the simple rule, if price is lower than the 20 period SMA, then consider only short positions. This the simplest way to trade with the trends.
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With the Indicator, you can now have multiple charts open and wait for the Elite Swing Trader will highlight potential trades to your attention. Of course, without saying, you do not trade every signals. Instead, this is a massive time saver. You decide on the trades to take.
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