buy in blue box area between 0.6370-0.6410. AB=CD at D completion
another high probability pattern on this seemingly never-ending consolidation in this currency pair :))
June 8 - -Nzd- Rate day. possible rate cut as it is expected
We have waited this moment almost 2 months and now triangle broken. First have to wait to break the top (0.68775) then we can hold longs till 0.72 area. For stop loss previous daily low or weekly low can be applied (depending on your money management).
Identified 2 Advanced patterns on the NZDCHF. Purple Triangles represent a BEARISH BUTTERFLY(Completed) Blue Triangles represent a BULLISH CYPHER Clearly we are now stuck at an impasse, to go LONG or SHORT, that is the question. Taking a step back to the 1D time frame, we can see that price has moved in a pennant formation ( grey lines) While it is not within...
Just spitballing my idea of how I think this pair will behave. Bullish slant: Looking to buy 0.68 break or dip into 0.653 off wedge support. Bear: Would sell 0.645 Range set: 0.634 () - 0.687 (Dec'15)
NZDCHF = NZDUSD + USDCHF (red line) i like NZDCHF short here because: NZDUSD overbought, USDCHF overbought
NZDCHF sell point: open and close below red box or touch D at ab=cd and close below red line
Good opportunity either way. Elliott Wave Study #1
we can see very clearly the formation of this beautiful triangle and are greedily to see its probably some upward break, no doubt a possible buying opportunity to break
BUY: 0.66089 SL: 0.66473 TP: 0.65451 Risk/Reward: 1.66
I am still bearish on NZD but will turn long at the 0.65 level.
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May be premature at the moment, but if we see some bearish price action at the 0.6710 to 0.6725 area, it could be seen as a lower low and hence good area to go short