bfairbridge

04:54

bfairbridge

Hey guys just wanted to do a quick breakdown of a position I am currently in on NZD/USD. Took this trade this morning based on a 3rd touch confirmation, precision entry on the 15M chart with HTF support and potential to turn into a longer term hold. Wanted to share this particular trade as in my plan this is an example of an A+ setup, one that I will take time...

bfairbridge

104.200 resistance line, trend line, 50% fibonacci retracement from the recent swing low, down trend. In the big picture, I see this pair shooting upwards once this next down run is exhausted.

bfairbridge

Spotted a bat pattern forming on the NZDCHF daily chart. When the market opens back up tomorrow I plan on setting a buy limit order at the 0.886 retracement of X to A with my stop loss just below X and profit target set for the 0.382 retracement of the A to D move.

bfairbridge

Price action has formed a descending triangle continuation pattern, with the resistance line growing stronger as price has reacted to it on multiple occasions and the support level at 1.76950 being tagged a few times more recently. A doji formed on the 29th and price has reached the 2/3 area of the triangle. Expect a breakout in the downwards direction.

bfairbridge

Price is reaching the 2/3 portion of the descending triangle formed by a long term resistance line and a recently tested support line at 100.060. Tweezer tops have formed, and I predict price will break through this support and continue in the direction of the long term trend.