Starting The Day With 2 Winning Signals, Patience Pays Off - Forex News by FX Leaders

Starting The Day With 2 Winning Signals, Patience Pays Off

Posted Tuesday, August 22, 2017 by
Skerdian Meta • 1 min read

Yesterday we spoke about NZD/USD and our forex signal in this pair. We sold this forex pair last Friday when the price was crawling just below the 200 SMA (purple), retracing from the bigger downtrend which started in the last week of July.

It was looking pretty good yesterday morning as we got close to TP, but missed it by just a few pips.

The 200 SMA did a fine job in providing resistance

In our NZD/USD update yesterday morning I said that I was going to close that signal manually since, at that time, the chart setup seemed like it was about to reverse higher. The plan was then to open another sell signal at the 20 SMA on the H1 chart.

We missed that opportunity, but we did open another signal when the price retraced higher, although not in the same pair. We decided to sell AUD/USD instead since the retrace higher in this pair felt a lot weaker than in other Commodity Dollars.

We decided to hold these two signals overnight and we woke up to a nice surprise, starting the day with two winning forex signals. There is another tempting chart setup to go long on GBP/USD. I will post another update shortly about it.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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