Trade Idea on NZDUSD + Full Explanation by ThinkingAntsOk

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Use this as a guide to develop your own setup

Main items we see on the 4hs Chart:

a)Price is on the lower trendline of the Descending Channel ( Dynamic Support)
b)on the last Bearish Movement we can see a Big Divergence on MACD Histogram + a decrease on the Bearish momentum ( Trendlines start developing a positive Slope)
c)On the Weekly and Daily charts , we observe Major support zones, that give strength to the Bullish Thesis
d)Currently, we saw a breakout of the last descending channel , and now we are waiting a retest of the channel on a 1h timeframe to set our orders
e)If that happens we will use the same parameters you can see on the chart
f)Remember protect your capital and minimize your stops between 1%-2% of your account

Daily Chart:

Weekly Chart:
Thinking Ants.
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