SwissPips
Long

NZD/USD Setup confirmed! Long

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
Please check comments on chart.

Feel free to like and comment
Comment:
snapshot
Comment: 0.67800 sorry, not 0.67
Comment:
snapshot


Look at how the top of KUMO acted as a support...

I am increasing my position since i think it is going to go higher from here
Good analysis. Re. line 3 on the comments, I see that price have gone past bullishly above weekly and daily Kijun Sen (KS). However, Chikou Span or Lagging Span is heading towards the historical price consolidation at 0.6970 indicated by the flat weekly KS. Please correct me if I'm wrong.

I guess price could reach that point without much fuss!
Reply
snapshot


Yes actually as you can see on the weekly we have this big bullish candle which has TS and KS as support. It should go and test at least the extension of its KS (flat line) at around o.6970. LS is also free of any obstacle until this flat KS. This makes me think that next week's candle will be blue as well :-)
Reply
aswam SwissPips
Thanks. I'm watching 0.6875 which is a double top in Oct. and Dec. 2015. Past that, the next target will be 0.6970. Not entered my trade yet, waiting for a possible pull back on the 4H.
+1 Reply
aswam aswam
Also the price may get rejected as the Chikou Span nears the long term Trend Line!
Reply
aswam aswam
snapshot
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Yes, of course there will be a retracement. Now I consider that LS is still far from this trend line. On a weekly basis I think next week will still be up ( I might be wrong of course ) and I am playing a 1/1.5 figure trade.

Thank you for commenting and liking my charts, highly appreciated !
Reply
aswam SwissPips
Your '1/1.5 figure trade', Is it the risk/reward ratio ratio?
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aswam aswam
Thanks for the encouragement. I'm in the trade and PA is so far behaving as expected.
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very nice and thorough
+1 Reply
SwissPips PRO tvillagomez1969
Thank you very much
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nice to have another ichimoku trader here, patiently following...
+1 Reply
SwissPips PRO thewealthlifters
Yes let's see how it goes
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SwissPips PRO SwissPips
0.67800 the support
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