someonewithoutaname

NZDUSD Bullish and Bearish Possibility

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
This is what I see.
I am 70% bullish and 30% bearish . But lets see what the market does!
Comment: in at 0.74018. NU going UP!
still bullish on this one. Didnt expect it to go down that much
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What analytical methods did you use to come up with this highly accurate pattern? :)
+1 Reply
Thanks!

What I did was simple, I identified the trend with historical patterns and prices:
snapshot

I also used fibonacci levels. And finally; support and resistance.

If I have the other option (B, C) is because I'm not always right, and so I use it as a risk management strategy. I know what to do in case the market goes against me. :)
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IMDB PRO someonewithoutaname
Great work! How did you determine distance from A before reversing I don't see any fibo lines on there
+1 Reply
The middle line of the channel shows a higher level of resistance, so it helps me to identify a retracement. The other arrow that shows that is going down, I used the red line at 0.73685 that shows resistance so I believe in the possibility of comming back at that level around 0.73800-0.73600 and then keep going up to my 1st take profit.

I used historical price and support/resistance to see where it can go:
snapshot
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someonewithoutaname someonewithoutaname
I hope I didn't get you confuse haha
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IMDB PRO someonewithoutaname
Not at all, makes sense :) Thank you for taking the time to explain this.
+1 Reply
No, problem :)
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Beautiful analysis.
+1 Reply
someonewithoutaname Elliott Moore
Thank you! :)
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