publishing the daily time frame to look at the scope of the situation short term short longer term long S/R line gives a nice RR to trade off note i have been building shorts for 6 hours, too soon as it turns out but still average 1.7324
NU has retraced 38.2% fib of the giant fall from 0.88 to 0.62 kiwi was talked down by the NZ government official last month long term RSI hidden bearish divergence i would be looking for an entry short on lower tf, first need to break the up channel plenty of time for a couple of 100 pips if analysis is correct first target 0.68
IF the consolidation in GU is ending in an updraft following the FOMC meeting the RR presenting itself on GA could be fantastic let's say 3 more days in the week and month ending, 1.83 could be a target anyway,... have to wait for the FOMC in 1 hour
don't like to trade this pair and probably won't take a position but nevertheless, if we break to the upside there is a lot of upside room i would wait for a retest if it holds it is back to 1.10 good luck
anyway, a direction needs to follow,.... i look for the forming of the right shoulder of an inverted HnS, if/when we break the red tl/wedge top target at least 1.35 no scenario for me if this is a continuation pattern down
going against the grain again there is bearish divergence on H1 and H4 rsi and a hidden bearish divergence on D1 there could be another 100 pips upside, but i will start shorting at 107 if possible
1 confluence of the S/R (green) flipzone and the bottom of the yellow channel 2 top of blue channel "neckline" of HnS if you want top blue tl and bottom yellow tl constitute a possible wedge on the right side if/ when it breaks down,.. first target is middle blue around 1.2650, ... second is lower horizontal greel just above 1.25 if it holds upper target...
i published the EN short idea a couple of days ago, now with brexit on the books today all is possible of course now NU made a similar move up from oct 2015, with quite the same retreat 2/3 of the way up coming into the top of that falling yellow channel that i assume won't break the first time, there is room down to 0.70 or else all the way to 0.76-0.78, in that...
around 1.78 - 1.77 don't even want to count the down pips here, so entry is a bit blurry for me bottom of 3 years ago should provide some support
D1 chart, is there going to be a huge fallout from the brexit helping this get started? keeping tight reins on this but a lot of potential
on the H1 tf an inverted HnS on it's way wit a beautiful Head just begging for a long now FOMCrate decision around the corner in about 1 hour so a grain of salt is permitted here i'm carrying small longs already but expect wild swings before direction is taken
chart speaks for itself, target 100 pips to 1.53555, sl 20 pips
if this turns out to be a massive HnS then the way down is clear or right shoulder is a bullish wedge of somekind :-) has the break of 122.20 been tested already or still to come? no position yet but my bias is long
is the support the end of the falling wedge? since a drop under support negates this, it presents a nice RR since the stops are clear
looking for nice RR nearly 50% retrace nice confluence of tl's putting sl just under 50 fib 1.945 for a small position, will move sl up when adding to long downside possible continuance down to fill the red channel 1.92-1.915...or more