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Long

NZD Long Opportunity for New All Time High

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
107 14 3
I believe NZD USD Long 0.86200 Opportunity for New All Time High
haha.. following my green..
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Yeah, green tea is the best in the world, though I like the taste of white tea more. But I don't like the black one, unless with some lemon, when I've got cold.
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delete ForceFollower
:)
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OK. What I've got about this trade is just stats. What my stats are saying is: first, now that the rally's begun, there's a very very high probability price will get to 0.8694. The odds are also very high it will get to Ret-61.8%, which is at 0.8709. Higher than that the odds get smaller, but still significatly in our favour, because of weak resistance. Next target is at the median line at approx. 0.8725. Next, at 0.8742, you've got the prior major high and just above it a palate (i.e., a bottom of the top range) of the recent high. That's where resistance is going to thicken. So, is it going to go to new highs? I don't know, maybe it is, but certainly, the higher it goes, the stronger the resistance.

Anyway, so far so good. Congratulations to you for sticking to your trade idea! :)
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delete ForceFollower
Thank you so much sir... Your feedback is diamond... will keep following your notifications :) :)
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You're welcome. :)

My bullish scenario goes like this. The first group of traders, that had gone long, have just taken profit. Now some of them may be reentering, other may still be waiting for new highs to enter long. Some people will think of going short placing their stops above the recent minor high. If, as expected, price goes higher, their stops will be taken out prompting some of them to go short again, while others will be "wiser this time" and go long, thus fueling a rally... :)

Anyway, you'll have more than one cup of tea before it hits your target...
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We have to be patient. It looks like it's going to take its time. Those nice "pin bars" have been overcome. Price is probably going to close below them. I can't see those buyers that took it to new highs. If demand doesn't show up soon, we're likely to see new lows.
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delete ForceFollower
we will see.. expecting a bounce. On my Meta Chart 4hrs Stochastic below 10 and MTF CCI looks promising..
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I remain optimistic as you are. :) The low of May 2nd still holds. :)
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delete ForceFollower
well.. thats a risk but I wouldnt expect a clean break of May low.. probably would retrace giving exit chance. lets see
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