EURNZD And Gold Forecast Update And Follow Up

Hi Traders! EURNZD and Gold forecast update and follow up is here. I shared this “EURNZD Forecast” and “Gold Forecast” in Trading View, in this post, let’s do a recap of these setups and see how they have developed now. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club. Spoiler alert – free memberships are available!

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Now, let’s summarize the idea first:

Contents hide

1 EURNZD
2 Gold

EURNZD

EURNZD – My idea here was as follows:

H4 – The price which is moving inside a range has currently bounced from the bottom of it. Bullish divergence.

H1 – Bullish divergence , the price which is moving higher has currently broken above the most recent downtrend line.

Currently, it looks like a correction is happening, we may expect further continuation higher after correction.

Current Scenario – On the H1 chart I was looking for correction and then further continuation higher. The price moved perfectly as per my plan. The correction that we were looking for happened and then the price moved higher as expected, delivering 220+ pips move before the price moved lower.

Gold

Gold – My idea here was as follows:

H4 – Price has broken above the downtrend line and has also created higher highs.

There are no signs that show the trend is over.

H1 – Price has created a bullish trend pattern.

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We have a key support zone that has formed by the 38.2% (1724.29) – 50% (1718.13) fibonacci retracement zones of this bullish trend pattern.

Until this key support zone holds my view remains bullish here and I expect further continuation higher.

Current Scenario – As you can see, based on the above-mentioned analysis my view was bullish here. I also mentioned that “Until this key support zone holds my view remains bullish here and I expect further continuation higher”. The key support zone didn’t hold the price and this idea failed. The price moved lower, broke below the support zone, and is currently holding below it.

These two trade setups are perfect examples of why we should maintain a perfect risk-reward ratio while trading. Because as you can see above the EURNZD trade worked perfectly and delivered a huge move and alternatively the Gold trade failed. Let’s say for example the risk-reward ratio for both these trades is at least 1:2, so in this case even if we lose one trade, on the whole, we will still end up on the profit side as we would have collected good profits on the other trade. This is why I always recommend having a proper money management plan when it comes to trading.

Note: If you want to learn about Money Management you can find it here

(Note: You can follow me here on Trading View and also on my blog to get similar ideas on a daily basis)

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If you have any further questions, don’t hesitate to drop a comment below!

To your success,

Vladimir Ribakov
Certified Financial Technician

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.