justatrader

NZDUSD Could test 0.7175

Long
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Trying to simplify trading and keeping it clean.

1. Price was trending lower in a falling equidistant channel. Support/Resistance identified at 0.7239 - 0.7175
2. To current lows, strong divergence to the AO
3. Y'day price was a doji so a possible bullish close today could further strengthen the bullish bias
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Trigger: Waiting for the AO to either cross the 0-line OR waiting for a classic saucer buy signal to initiate the trade. Initial stops at recent lows.
Risk: Initial risk at minor identified resistance of 0.6684. If this is cleared, then the trade should be quite a profitable one.

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