rozela99
Long

NZDUSD Potential 2X Bottom trade

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
46 1 0
My overall Bias is bearish until price hits the Daily Structure Level

Price has put in a New Structure Low. Thus giving me the indication price wants to go lower.

With the RSI over sold could price put in a Outside Return at this level? I think it could.

If Price puts in a Double Bottom @ this level I would look for a Outside Return back up into the .6500
even handle and Possibly a little higher into structure. GIving me a nice little profit. Before it rolls on down to the Dialy Structure level.

IF price does not give me a 2X Bot. Then I think the next level
for a potential Outside Return would come in somewhere around the Kill Zone.
(Daily Structure level, Fib Ext level and the completion of the AB=CD Pattern)

If you really want to be a successful trader you must Trade with a plan that has percise rules.— Rick Rozela (@Rozela99) January 13, 2016



Comment: Watch how price reats to the daily structure level.
Trade would have been a loser.
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