NZDUSD : Get inside both short and mid term bullish trend

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
The NZDUSD             pair is fluctuating inside both short term and mid term upside trends, with the easily recognizable tops and bottoms that are oriented upside.

After a constructed drop in september and early october, NZDUSD             has made a bounce at a great support point :
- The ascending trendline support that shows the pace of the mid term trend
- The 150 days moving average , which constitutes a dynamic support since March of this year.
Since that bounce, the short term construction is also bullish .

The current drop makes a great opportunity to enter long on this pair, with the following simple strategy :
- Open long under 0.7200
- Stop @ 0.7085 (below the previous bottom)
- Target @ 0.7380 (just bellow the previous top to make sure you get executed if the scenario is favorable)
Reward/Risk ratio = 1.56

This scenario is short term ; if the stop had to be reached then we would seek to enter later, for example near the major support.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out