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Swing Tades For Next Week
Welcome to another edition of the RLZ Trading Newsletter. In this newsletter, I will provide you with my most interesting trade setups to help you get set up for the upcoming week.
GBPJPY
After a long-term uptrend, GBPJPY now seems to have broken that trend after trading within a range. I am seeing a good level above current price. A level that is confluent with the Monthly Open level and the area around the Local Short RLZ.
Daily chart
4H chart
EURNZD
After trading in a Daily downtrend, EURNZD is now giving us a potential bullish break in structure by breaking above a significant SR level. Looking at the Daily chart, this level looks great for a retest.
Exactly how the entry trigger for this trade will look like I’m not sure about. All I know is that I will get alerted when/if this level gets hit and I will enter if there is some sort of 4H rounded bottom on this level as support.
Daily chart
4H chart
AUDNZD
There is a relatively clean level above, right above the Monthly Open level. This looks like an area price will likely retest.
With the higher timeframe bias in mind, we look at the 4H for a potential entry. After trading within a clear downtrend, the 4H chart is now showing signs of a bullish break in market structure by breaking above the local Range highs. A retest of this level is what I’m looking for.
Daily chart
4H chart
GBPNZD
If you took the trade from last week on GBPNZD, you would now be in nice profit. For those that missed that trade, I have an idea on how to catch the rest of this move.
Looking at the Daily hart we see a clear double-bottom / ‘W’ structure inside the HTF Long RLZ. We want to look for an entry on a retest of the neckline of that W structure. Same targets as last week.
Daily chart
4H chart
Bitcoin - Levels To Watch
Bitcoin keeps ranging and I’m going to keep it very simple for this week’s BTC analysis. If price manages to break above 28.5K, I will be looking for a move to $30570. And if BTC breaks below 25.5K, I will be looking for a move to $23590.