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NZDCHF: Do not miss this long term sell opportunityA week ago, I made prediction on this pair. I stated that the pair is in a strong downtrend on a higher timeframe. Price reached the resistance of the downtrend and got rejected strongly. I was looking for long term short positions since I saw a strong bearish engulfing bar. From the time of my prediction, price fell nearly with 185 Pips. I expect more decline this coming week. For new entries I will be looking for bearish continuation structures for sell positions. Please support this idea with likes. Thanks
Short
by Forexintelligence_NA
2
NZD/CHF Could we see a small retracement equal to 150pips?The price looks like it could easily make a retracement according to the Monthly chart of at least 150 pips In Monthly: The price is currently in demand zone. We could see a rejection of this demand. If we want to measure the possible retracement all we have to do is take the fibonacci from high to low of the current impulse. Doing so we can clearly see that the .5 fibonacci level is in good confluence with previous structure. We could expect a retracement at least to the .50 In weekly The price is over extended. When price is over extended we could expect a correction. To measure the correction we have to use the fibonacci in the current impulse. The .618( golden level) is in confluence with the weekly structure as well monthly structure. In Daily The price have created an inverted head and shoulder which means a possible reversal of price action.
Long
by Wiiso