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justagirllearningtotrade
Aug 23, 2021 10:06 AM

NZDCHF 1000 Pip Buy Setup? Long

FX:NZDCHF1D
New Zealand Dollar/Swiss FrancFXCM

Description

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Moving for long term or ~160 pip buy to continue downtrend?

Price reacted off of daily 61.8 fib level.

Should this price hold and price break past the last swing high, I think we may be seeing a long term reversal for the next 1,050 or so pips to the match D 61.8 extension.

Or this could be a pullback for a deeper retracement off of the lower TF shallow retracement play to continue to .62500. Price has not been in this zone since December 12/21.
Multiple Time Frame AnalysisFibonacciTrend Lines
Comments
Khiwe
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A tough one, it has the potential to fall. Good to see you back
justagirllearningtotrade
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@Khiwe, Hey. Never left :). Just made my charts private, links are in the video description of my YouTube videos.

I think it could fall as well. We are at daily 61.8 fib level though. I can see the possibility of either scenario playing out.

For the short term, I see a buy opportunity. But also, the Daily stochastic RSI is in the buy zone. That could also be a long term indicator.
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