ChaosTrader63
Long

EUR vs NZD Fractal Bounce Trade Opportunity 7-26-16

FX:EURNZD   Euro Fx/New Zealand Dollar
Looking here at the daily EUR vs NZD using the Ichimoku system we can see that price is below the Kumo Cloud which is a long term bearish bias. The future is still dark which indicates that we should still see plenty of dark clouds and down pour. Chikou is below price which again is a bearish indication, but we do have a bullish TK             Crossover which is a bullish indication. What really gives me the decision to take the long road is the Daily fractal break as that is a strong indication of possible price reversal. Price being above the Tenkan and Kijun is an indication that the short term and the mid term momentum is changing to bullish . Finally this setup is called a broken foot setup with Ichimoku and one that I have seen quite often. Currently on the daily if price holds as is we would have a Tweezer Bottom at the fractal support and a possible Piercing Pattern which is a possible bullish reversal signal. With that said I have placed an aggressive entry mid candle and will use the low of the previous candle for SL, Let's see if price can continue this early change of direction bias! Good luck and God bless! Come visit me at http://www.fxatoneglance.com

ChaosTrader63 Managing Director & Trading Coach
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