- Rejection and bounce back of bottom of long term trend
- Reacting nicely off 0.786 fib level
LOOKING TO BUY IF FOLLOWING CONDITIONS ARE MET;
- Close above 0.786 fib
- Close above 20 EMA (moving support)
- Bullish candlestick
- RSI pointing up
1.79000 is the magic number on this pairing, yes you guessed it good old simple support and resistance level... See how simple it really can be? I hope i am drilling it into you that SIMPLE REALLY IS BETTER!
Do you find you keep losing and cant turn a profit in the markets? i hold all the answers. This is down to your mindset that has been programmed rite from...
EURNZD- Hoping for a 4H close above the 50EMA to confirm our long idea. We have price in an uptrend (series of higher highs and highr lows) with a third touch of this ascending TL causing a bullish wick candlestick previously. and also a 50% fib retracement.
With this pair currently at monthly support, there is a good opportunity to capitalize on the possibility of the pair rejecting this support. Also, the pair being at weekly support provides further confluence for the rejection of monthly support. If the market provides a daily close above daily resistance, then the re-test of that structure would present a good...
We can see that this finally broke out and is now going to retrace, I am waiting for price to respect one of the Fibo levels before I place a buy to the top!
This can be sold from this level and im going to guestimate TP will be around the 50.0 level