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TheAnonymousBanker
Oct 22, 2018 8:18 AM

[NZDUSD] POTENTIAL "ABCD" PATTERN Short

New Zealand Dollar/U.S. DollarFXCM

Description

Potential ABCD pattern on one hour chart...

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Comment

Trade closed: target reached

TARGET 1 HIT!

Trade closed: target reached

TARGET 2 HIT!

Comments
Walentine
why did not I receive notification for this idea? :(
TheAnonymousBanker
@Walentine, sorry I don't know, contact tradingview support....
easyMarkets
Great idea on NZDUSD and there may be bearish potential as you have identified. The 1st resistance that we have identified is at $0.6640 which is not far off from the support level that you've identified. It is horizontal pullback resistance, 78.6% Fibonacci retracement , 61.8% and 100% Fibonacci extension. Stochastic is approaching its resistance at 94.846% where a corresponding bounce could occur. If a potential bounce does occur, we may want to look at $0.6505 support level. It is a horizontal overlap support and a 61.8% Fibonacci retracement. Looking forward to see how things develop.

Please have a look at our idea and we would like to hear your thoughts.


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