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.
Peter128 Peter128

It's indeed premature... The momentum will turn soon? Hope so.
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
Peter128 Peter128

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