Sell below 0.7051. Stop loss at 0.7093. Take profit at 0.7051.
Reason for the trading strategy (technically):
We prepare to sell when price breaks a major support level at 0.7051 (Fibonacci retracement, Elliott wave theory, horizontal pullback support, bearish divergence) and expect price to make a strong push down to 0.6987 support (Fibonacci retracement,...
Entered in a 1H demand zone. Dollar is weak, so supports a bullish view of NZDUSD. Rally-Base-Rally zone. One candle in the base, with two strong bullish candles going up out of the zone.
This chart is clearest to me. To go long on the 50% pullback of the early rally during asia. FOMC not withstanding. I would not like to see any candle close inside that 1H cloud at least for today. Targeting .705 - .707 handle.
-Strong Upward Trendline & Bullish Flag On Daily Chart
-Downward Sloping Channel On H4
-0.682 is a very strong base area of possible reversal, Stop Loss Is Placed Below 0.682
Trade My Ideas At Your Own Risk, Good Luck.
The NZD/USD pair continues to move upwards from the level of 0.6942. Yesterday, the pair rose from the level of 0.6942 (the level of 0.9866 coincides with a ratio of 50% Fibonacci retracement) to a top around 0.7000. Today, the first support level is seen at 0.6942 followed by 0.6913, while daily resistance 1 is seen at 0.7037. According to the previous events,...
I am looking at a possible new NZDUSD setup. The price did not go lower and has been on the rise since then. As you can see from the screenshot, it looks like it might be bottoming out. The daily candle from Friday is a long-legged doji (showing indecision). Today’s candle is most likely going to be a bullish candle. One way or another, I will be looking for a...
Sell below 0.6883. Stop loss at 0.6920. Take profit at 0.6826.
Reason for the trading strategy (technically):
Price has bounced up and reached our profit target perfectly. We prepare to sell below 0.6883 resistance (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) for a push down to 0.6826 support (Fibonacci extension, horizontal swing...
Butterfly Rules
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AB can retrace up to 78.6% of the XA leg
BC can retrace between 38.2% – 88.6% of AB
CD can be an extension of 1.618% – 2.618% of AB
CD can also be an extension of up to 1.272% – 1.618% of XA leg
The point D is known as the PRZ or Potential Reversal Zone
Buy above 0.6818. Stop loss at 0.6789. Take profit at 0.6874.
Reason for the trading strategy (technically):
Price reached our buying level and has started to bounce up perfectly. We now remain bullish above 0.6818 support (Fibonacci extension, Elliott wave theory) and look for a bounce towards 0.6874 resistance (Fibonacci retracement, horizontal pullback...
![NZDUSD: [symbol="NZDUSD"]NZDUSD[/symbol]:bullish BUTTERFLY pattern (97%)](https://s3.tradingview.com/z/zVDHgjmc_mid.png "[symbol=\"NZDUSD\"]NZDUSD[/symbol]:bullish BUTTERFLY pattern (97%)")
