26/01/18 NZDUSD

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Daily Chart – Market has been running pretty bullish since late December. It has been breaking previous “structure high” constantly with a nice momentous demand of buyers. This has resulted in a strong short-term bullish characteristic that has a great opportunity to test the September 2017 high (0.745).

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1 Hour Chart – As much as the market was really choppy, it respected key areas ~ as stated above on its characteristics. Spotted an engulfing pattern in the key area and decided to take a probability bet on it with a 1:4.37 RR.

Management of this trade: I reckon people to trail this trade loosely after it passes the 0.739 mark. If the market would to close beyond the bearish hammer, the market would have a great potential to trade a lot higher.
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