Following CHF ideas, NZDCHF is clearly forming bottom pattern ( Round bottom). Not the best time to buy but great to put in watchlist to keep track.
Once breakout of this bottom formation, big move is ahead
Nzd Chf, bearish in a 15-min chart. A simple setup -price broke bullish trend line and momentum is expected to push down owing to a bearish engulfing candle. Small time frames -yeh they demand more attention, they're a bit edgy but I will give more practice on these.
All our Forex shared set-ups are speculative and not guaranteed, analysis and...
. There is a possibility of temporary retracement to suggested support line (0.6302). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NZDCHF is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
Pattern: Double Bottom/Breakout setup
Observation: Price appears to have successfully break resistance @ 0.62700 and it's currently experiencing a correction into the 0.62700 zone to make new support.
Trading possibility: BUY now or at the completion of correction into 0.62700/0.62500 zone with a...
There are 3 roadmaps here for ideas.
Take note of a possible LARGER ABCD move inside a smaller ABCD move.
You can clearly identify the possible pattern formations that could play out via harmonics. Price must break the purple solid line to exit the range and become bullish on DAILY. I see this double bottom as a FALSE PATTERN if it does not break the horizontal...