20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Daily Chart
Rally in Kiwi hit a snag as price failed to overcome 0.843, the support for Dec 2012. Stochastic reading shows a potential crossing in the works, but a proper bearish signal can only be confirmed with readings below 80.0 and NZD/USD failing to hold above current levels.
Hourly Chart
Hourly chart paints an opposite story with Stochastic reading forming a crossover in the Oversold territory. Price is also trading above 84.0 round number (horizontal line) and also the upward trending line formed this week. Keep a lookout on how price move early next Monday for any indication of bearish breakout or continuation of this week's bull run.
GBP/NZD Hourly
GBP/NZD is also facing strong resistance around 1.92. NZD/USD movement next week will have high influence on this pair's ability to break above 1.92.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!