Niverto
Long

How to build a case for entry with pure technical analysis

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
136 0 12
Hi Traders,
I would like to show you how to build a case for entry with a pure technical structure analysis.

- We can see on the chart that price retraces to the 50% Fibonacci retracement
- Then it projected right on the 141.4 Fibonacci as I expected forming a nice Harmonic AB=CD move
- The RSI in entering the extended zone.
- The price entered the Daily demand area.

From that point we can add as much confluences to our score card to put more strengh to the probability of a winning trade i.e dropping down to lower time frame (1H, 15Min) to enter on a double bottom with bullish divergence ...
Let's see how the market goes on and will keep update on this one.

Happy trading
Trade closed manually
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