+5.4R Banked : EURJPY Up +100 Pips
Tues 14th November 2023 : Daily Forex Strength Analysis
Today we’re looking at Trading Setups in:
- GBPNZD (Primary Focus Pair)
- EURJPY (Covered In Video)
- EURNZD (Covered In Video)
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Our Interest (pending order)/Open Interest (live position)
| GBPNZD (Long) | Price | Pips +/- | R/R (Max/Min) |
|---|---|---|---|
| Alert Set | 2.0820 | ||
| Entry Price | Price Is Far From This Alert Will Need To Update Trade Details If Triggered | ||
| Stop Loss (Min) | |||
| Stop Loss (Max) | |||
| Profit 1 | |||
| Profit 2 |
GBPJPY from our trade alert on the 1st November has hit full targets of +2.4R or +240 pips.
We have also closed our first EURJPY trade alert on the 8th November at +3R or +150 pips.
Our current EURNZD position is closing in on the +2R targets and stops can now be at breakeven.
Highlighting NZD again we can see from the tables it has become W1(weak 1) on our day traders tables.
Our momentum dashboard which can be found on discord shows GBP as a strong currency today, this is also reflected on the tables by being S2 (strong 2) on both tables.
However, looking at the D1 (daily) chart we can see price is at key daily resistance of 2.0950, formed from the highs on 1st November and 24th October.
So we need to wait for price to breach through these D1 highs in order to look for long ideas into the next level of resistance.
We want to be buying from key support and on the D1 time frame this comes in at the lows of 2.0600 formed on 3rd November.
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Primary Focus Pair Chart:
Technical Observations:
- NZD is W1 and GBP is S2 on the day traders table.
- Price of GBPNZD is currently at daily resistance highs of 2.0950.
- Buyers need to see price close above this level before targeting the next resistance.
09:00 GMT/BST Forex Strength Vs Weakness Tables:
