IvanLabrie

NZDCHF: Monthly map - Potential long term NZD weakness ahead

FX:NZDCHF   New Zealand Dollar/Swiss Franc
89 9 9
Informational chart only.
If we cross the level price sits at confidently, we might retest lower areas, around the 0.63043 mark.
I'll update with a shorter timeframe short entry.
Currently in the middle of a very strong decline with no pause.
Looks to be impulsive behavior after a long term consolidation.
The triangle in CCI is wild speculation, but makes me think this consolidation phase is over.
Among other factors, derived from observing multiple currency pairs.
Hi, great post! Do you think I should wait for a retracement to previous support before entering a short again?
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You have a short running? There might not be any clear retrace on the daily chart.
If we get a retracement, and it stops under the start of that second triangle we can short it.
I normally look at 1h and 4h to scout for clear entries when things move too fast.

snapshot
+1 Reply
G PRO IvanLabrie
Unfortunately I went out around 0.7150 and missed the next move. :) Thank you for the details, I will wait for next week! Alright last question, I am still in a short in USD/CHF do you think it has potential to reach 0.9250?

snapshot
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I'll suggest trailing stops if in profit. You can use a 3 bar high to trail. Daily chart or 4h.
See my usdchf publication.
+1 Reply
G PRO IvanLabrie
Thanks! Have a good weekend!
+1 Reply
You too!
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IvanLabrie PRO IvanLabrie
NZDCHF followed the script:

snapshot


Wave 5 is almost equal to wave 1, we can probably start looking for a long position here.
Might need to go to a lower tf.
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snapshot


Correction anytime now. Trend is strong, so better wait for confirmation here.
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