Price held the weekly 50% fib level with a nice pinbar rejection after a failed test of $0.95250 supply zone. The daily confirms this rejection as it shows textbook deceleration into the 4H flip level (gray shaded box) and 50% retracement of the last weekly swing. Price formed an inverse head & shoulders reversal pattern here and broke $0.9200 with some nice momentum. Watching for an intraday pullback to pivot for a long to retest the highs at $0.95250
Comment:
NZDCAD offered us a nice entry at the 240 pinbar on 07/26, which is now in profit with our targets at the $0.95250 level
Trade closed: target reached:
Price tagged our target on August 10th and trade was closed