On the 4 hour chart NZDUSD has not made a lower low, but made a higher low. This indicates that this wasn't part of the trend and we are still waiting for the pull back which looks soon. The market is looks over extended on the sell side
possible area to buy and the red area below would be area to set stop loss, but it all depends on how the market reacts in the buy zone. i wouldn't be looking to buy straight away if the sellers are gaining enough momentum to break the pattern.
Waiting for double bottom or some time of consolation or price action to buy. I do believe that this area is a strong support where buyers can come in with strong momentum to the upside. A good win to lose ration if the pattern does complete