farid_ardavani
Long

Pin bar on daily chart of NZDUSD

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Pin bars are strong reversal candle sticks; if the closes as a pin bar , we can go long; RSI and CCI shows that right now we are in a oversold condition and this pin bar could be a clue that a retracement is in near future. we can see CCI starts to reverse;
our first target is 23% fibo and second is 38% fibo.
Oké. This is the moment.
Reply
Peter128 Peter128
http://finance.yahoo.com/news/nzd-usd-technical-analysis-selloff-024700042.html

It's indeed premature... The momentum will turn soon? Hope so.
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so we can see in his analysis that we are in the floor of the channel and if channel wont broke we hope price retrace up as i mentioned. we can trade this pin bar with a small lot size, because first its a counter trend move and second you think its premature :) good luck
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Peter128 Peter128
http://finance.yahoo.com/news/nzd-usd-technical-analysis-channel-040000921.html

another good analysis on this one.
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thanks, was helpful
Reply
Peter128 farid_ardavani
oké. momentum is turning... 0.6620 is the bottom
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and as u can see, we have a nice risk to reward ration, good luck
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