Will we get any upside out of NZD/USD?

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
274 11 3
Since the pair broke structure to the downside on the Daily time frame, we have fallen off a cliff             ...
Going out to the weekly time frame to see where price could be heading or could react i have highlighted the next zone which is the two blue horizontals...

1. Weekly structure zone
2. Moving into oversold conditions - Weekly
3. Oversold - Daily
4. 1.27 Fib Extension - Daily
5. 1.27 + 1.618 Fib Extension ratio confluence - 1H
6. Double Bottom - 1H
7. Bullish Divergence - 1H

I have highlighted two solid potential risk reward profiles if current price was to hold...

Looking forward to see if it gives anything back or will continue to the downside!
well done
+1 Reply
I have read through your thoughts now and I have to say it's really interesting that we reach so different conclusion based on price action.
On your chart above I can see two 'reversal' candlesticks, which make for you point I think, though to me the latter is too low to look bullish - so I'm still expecting further downtrending. Let's see !
+1 Reply
SmartTradingFX SimonRasmussen
Targets hit Sir!
+1 Reply
SimonRasmussen SmartTradingFX
congrats! for me: no entry this time
I can see you entry, tp and sl
but what are the other 3 lines?
+1 Reply
SmartTradingFX SimonRasmussen
The other three lines ( Two green One red ) are where my Fib Extensions completed! Do you use Fibs in your trading?
Akil_Stokes SimonRasmussen
Funny that I'm reading this comment now. During my live trading session today we had a good conversation on how both traders looking for a long or a short at the a\same area could both be right. One of the things I love about this industry is that there are so many ways to trade and so many different perceptions of the market. I'm not sure if I recorded my rant or not but if so i'll try and upload it to my youtube page this Thursday
+2 Reply
SimonRasmussen Akil_Stokes
If you end up working that out, you can update us with a link
+1 Reply
Akil_Stokes SimonRasmussen
o problems, my videos come out every Thursday, so just keep an eye out for it on my youtube page
Akil_Stokes Akil_Stokes
*No problem
SmartTradingFX Akil_Stokes
Akil, It blows my mind how different traders think different things and as you said could both be correct! Did you have this pair on your radar this week at all?
I hope you did record it would love to see it! Fire the link across if you get a chance!
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out