Hi Traders! Arvinth here from the Home Trader Club team. The weekly summary and, review of February 10th 2025 is here. It is now time to recap and summarize the trade setups that we had during last week. Below you will find a short explanation of all the trade setups we had last week and how it has currently developed now.
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NZDCHF – My idea here was “Looking at the H1 chart, we could see that the price which is moving lower has created a bearish trend pattern in the form of three lower highs, and lower lows which we may consider as evidence of bearish pressure. Generally, after a bearish trend pattern, we may expect corrections and then a further continuation lower. Currently, it looks like a correction is happening and in addition to this there are no signs opposing this short term bearish view at the moment. In addition to this, the ADX indicator gave a bearish signal here at the cross of -DI (red line) versus +DI (green line) and the main signal line (silver line) reads value over 25 which we may consider as another evidence of bearish pressure. Also, we had two strong support zones that have formed, the price moved lower broke below these zones and is holding below them, we may consider this as yet another evidence of bearish pressure. Currently, these strong support zones are acting as strong resistance zones for us. Until these two strong resistance zones (marked in red) shown in the image below hold my short-term view remains bearish here and I expect the price to move lower further”.
Current Scenario – My plan still remains the same in NZDCHF, that is until the two strong resistance zones shown in the image below holds my short term view remains bearish here and I expect the price to move lower further.
NZDCAD – My idea here was “On the H4 chart, currently, we have a strong bearish momentum and based on the Heikin Ashi candles we can see that currently, we have strong bearish bodies in downward moving market conditions so it basically reflects a bearish environment. In addition to this, we have a bearish divergence that has formed between the first high that has formed at 0.81991 and the second high that has formed at 0.82383 based on the MACD indicator. The price then moved lower and broke below the last low at 0.81297 thus creating lower lows, we may consider this as another evidence of bearish pressure. Also, the price which is moving lower has broken below the most recent uptrend line which we may consider as yet another evidence of bearish pressure. So the bottom line here is that, everything looks good here for the bears and I expect the price to move lower further in the short term after pullbacks until the strong resistance zone (marked in red) shown in the image below holds”.
Current Scenario – In NZDCAD, until the strong resistance zone holds I was expecting short term bearish moves to happen here after pullbacks. The price action is following the bearish expectations so far, my plan still remains the same here.
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Happy Trading!
Arvinth Akash
Home Trader Club Team.
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