NZDUSD - Trade the D leg of this corrective move
Confluences to long:
1) Price is continuously forming Higher Highs &Higher Lows
- indication we are in an up trend
2) Candlestick rejection at Kijun Sen (entry point)
3) Looks to be unfolding into the D leg of an ABCD
corrective structure
4) Kumo cloud is bullish and widening
5) Break through of R1 and 0.5 fib retracement
6) Targets align at conflunence of 0.618 fib retracement
and 1.618 extension of move B-C. Stop Loss just
below the CTL
1) Price is continuously forming Higher Highs &Higher Lows
- indication we are in an up trend
2) Candlestick rejection at Kijun Sen (entry point)
3) Looks to be unfolding into the D leg of an ABCD
corrective structure
4) Kumo cloud is bullish and widening
5) Break through of R1 and 0.5 fib retracement
6) Targets align at conflunence of 0.618 fib retracement
and 1.618 extension of move B-C. Stop Loss just
below the CTL
Trade closed: stop reached:
Annoying this one as I still believe we will head higher from here
Comment:
after stopping us out by 10 pips...the price then rallied upto our TP area before dropping. All these moves were predicted which is nice to see. This is why post trade analysis is crucial