Price has printed a buy signal on the trend line (doji)
Note the ascending triangle pattern, so this setup offers a great risk to reward ratio!
Entering at market price 0.68417 with
SL below the low at 0.68154 and
TP as per the triangle pattern target IF it breaks higher at 0.70768
Don't bet the farm, always exercise good risk management!
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The daily chart of NZDCHF shows that the uptrend from Sep. to Dec., 2018 is a textbook five-wave impulse pattern, labeled 1-2-3-4-5 of (A). According to Elliot Wave theory, a three-wave correction in the opposite direction follows every impulse.
So far, we have seen a five-wave impulse in A of (B) and double three combination (w-x-y) in B of (B)....
NZD/CHF short potentially coming up. As long as the prices reject under the 4H 50 EMA this move is active.
If prices begins to find support and break the resistance then look for a short term buy back up.
Keeping an eye on this one as to how it will turn out.
this is my setup for NZDCHF for the next week.
I will open 4 positions with 4 different targets at the fibonacci retracements as sell stop order.
And 4 positions as sell limit order for the case that the macro M complete.
This is the daily timeframe, so let the trades run as swintrades.
Have a creat trading week.
Price at resistance:
If ascending channel gets broken, it will be a good sell.
but if the market decides to break the resistance. it will be a good buy.
Lets see how it plays out this week. (The market will do what the market will do)
NZDCHF has broken above the 50 and 200 EMA and has been in a consolidation for quite a while.
As it finds its support and confirms it, we can expect a move higher up.
This is a very probable continuation pattern.
To be entered within the next 8-16 hours if everything goes as expected.
*I'd personally let this short term push up happen and wait for the low test...
NZDCHF is heading down after bouncing off of the descending trendline and there are multiple ways to get involved A) which is more likely to happen and it would be also better to see the trend continuation or B) in case the price fail to push lower and comes back to test the higher resistance.
NZD/CHF has broken under the 50 ema on the 4H chart. As long as the 50 EMA holds as resistance, the push further below is active.
Wait for the close of the candle on the 8H chart. No trade has been opened yet. This is only an idea and expectation of what can happen. Therefore, we must wait until we have a good signal and confirmation.
That would be to open your...
NZD/CHF is currently in a strong bearish momentum and is looking for a break further below.
As we can see from the candlesticks on the 4H chart and 1H chart, it hasn't been able to find support.
As it breaks the current price consolidation area, we can see it go down 35 more pips.
This is a quick day trade. Risk no more than 1-2% and wait for enough...
Support on top of 50 EMA seems to have been found after having broken it on the 4H chart.
If prices hold strong on top of the 50 EMA, we can see an upwards break of about 100 pips for the first wave.
We are currently in a bullish daily market, on the weekly we are kind of ranging so to say.
To maximalise our opportunities we have a nice area of confluence. What we have is shown on the chart, with a lot of levels lining up around the same area, giving us more and more opportunities to get involved, for whatever trader you are.