I AM LOOKING FOR THIS PAIR TO BREAK THE SUPPORT AND RETEST TO GO SHORT. THE WEEKLY AND DAILY TIME FRAME SHOWS THE PAIR IS READY TO GO BEARISH AND THE 4H CONFIRMS THAT PER WHAT PRICE IS TELLING ME.
This is good to play as levels and every breake you can move SL to next point.
NZDCHF Timeframe: 1D Direction: Short Confluences for Trade: - Price action at Strong Resistance Trendline (Since Jan 2015) - Price action at 61% Fibo retracement levels - Gap between 8EMA and 50EMA too wide - Stochastic Overbought momentum Suggested Trade: Entry @ Area of Interest 0.6825 - 0.6925 SL: 0.6998 TP: 0.6453 RR: Approx. 3.42 (Depending on...
NZDCHF retested weekly descending channel last week and formed head and shoulders pattern on H4 also failed to break above 61% fibo level waiting for neckline break out short term target is 38% fibo level that is last broken major resistance long term target is bottom of channel
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Pair: NZDCHF Position: Short Ascending trend line broken, price is approaching 38.2, should the 4hr close close enough i will look for a short position
Note -NZDCHF showing signs of slowing down after intraday rejection of higher price (long daily wick) by forming a reversal candle (Pinbar/Spinning top/Indecision) AT RESISTANCE -NZDCHF at long term resistance trend line -NZDCHF showing bearish divergence on 4H time frames -Stochastic severely overbought at resistance Entry -Keep enough distance below the...
EXPECTING NZDCHF TO REVERSE BEFORE WE CONTINUE UPWARDS SO JUMP IN See previous analysis SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
Please note, all information presented here is for educational purposes only and is not intended to provide financial advice.
butterfly on NZDCHF and we expect bearish for short term then bullish to midterm decline line.
NZDCHF is approaching our first support at 0.6501 (Horizontal overlap support, 38.2% fibonacci retracement, 61.8% fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 0.6610 Horizontal swing high resistance, 38.2% fibonacci retracement). Stochastic (21,5,3) is also approaching support and we might see a...