Here we have gotten the completion of a , do keep in mind this is a DAILY time frame. Due to the bigger stop loss, I will be looking for long opportunities on lower time frames, in order to keep my risk under control. We are seeing , a possible indication of sellers running out of steam. Risk to reward does work in our favour, stop loss goes 10 pips below the 161.8 % Fib extension of AB leg. See the chart for more details.
Please feel free to AGREE or DISAGREE with this idea. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)
I timed a potential reversal price and date with my methods.
Price already exceeded the bullish target for my profile balance point (like an AB=CD but measuring from the low to the mode or most frequent price level, and from this level up) but I won't go long NZDUSD before I see at least a nice and clean low that holds for at least 5 days.
MACD/CCI divergence would be a bonus too.