I don't do stocks, but I couldn't let this get away. Look at this GAP in the price..
The price will return to nearly where it was before. But not anytime soon.
The problem with that is it will take "a long time", especially with the attention that european countries are giving FB (as FB clearly dropped the ball and/or collaborated on this one).
The beating up...
Price moves in the channel. It even pierced the top/resistance for a while, but now I believe the swing is in motion (for the last 3.5hours) and I believe that this is the starting point of this swing.
This is not a fast trade. I am in it for the full swing (dramatic news apart of course).
Following up on my previous EURUSD I've noticed a Support line (1.05315) that has been there since 1987. TradingView data go as back as 1993, but feel free to check in MT4 or whichever other terminal. This support line (1.053xxx) has been broken in 1999 and was re-established in 2003 and hasn't been penetrated since (apart from a failed attempt in December...
Some people see a channel (aqua)
I see a triangle (red). Either way I see NZDCHF going for a bull. I set my first TP on (red - triangle) 0.698xx.
If I see it continues soaring after I will buy again and ride it to TP on (aqua - channel) 0.704.
The TP will tell me whether the channel or the triangle is active, and will follow the bear down to the respective...
Triangle is set up.
Resistance not broken since June 2016.
Support touched (only) twice since November 2017.
EMAs are crossing showing bull (D1).
Stoch (14,3,3) is moving upwards moving away from overSOLD and towards overBOUGHT.
It is a small BUY, but I will also be waiting for the sharp SELL once resistance is near in 4-5 (?) days.
On the D1 there is a nice wedge. For a while the price has dropped off the wedge and with today's sprint it is getting back in (or it is already in depending where exactly your trend lines are). The bull will continue until it hits the top of the wedge (or near). My TP is 155.800 (let's not be greedy, if 700pips are ok then so are 650.
RSI seems to support this,...
News on Italian elections were (for the time being) not shocking/suprise. So no crisis there.
Germany now has a stable government and no surprises there either.
Greece is no longer threat to anyone except their own pensioners.
USA's tariff plan is backfiring (China, EU reacting bad), although I believe they (USA) will not back out and will eventually go through...
I see 2 wedges:
-one is visible on the D1 (starting Feb 2017),
-one is visible on the W1 (starting Aug 2012)
(drawn with different yellow lines).
Each would yield a different TP. One is 1.52900 (D1 wedge) and the other would yield 1.44680 (W1 wedge).
I have no clue where it will stop, but I am riding this bear down the 1.52900 point for starters and perhaps...
Resistance of 1.575 has been broken 3 times since Nov 2013. Last time was a double-top in Jan * Feb 2017. I don't see any reason (shocking news apart) why it would break and maintain over the 1.575 line, not for a double-top again, and will return to the 1.575 and then continue to then 1.563. Swing has started.
RSI, MCAD, Stoch also have began their drop (visible...