ETSY is a beloved gem for on-line craft shopping around the holidays just a few weeks away and nearing a retest of recent low at 48.17 and headed below 786 Fibonacci Retracement and showing CCI driving lower from current 40.43. Watching for present.
There are weak data coming from Australia and also possible holiday weakness on AUD. On the other hand fundamental outlook on NZD is neutral, maybe even bullish as there will be latest GDP data coming in a few hours. I think it is a good opportunity to enter to short trades in these moments. SL and TP as on chart. We have a fair RRR - 1:2 to 1:3. www.dailyfx.com
Will be looking at the Bat pattern Completion for pottential long opportunities Much as the Impulse leg is Ugly.
Simply stating that we are reaching a potential for some activity on this pair. Once a Candle Closes Above Green Zone I see potential to rise up to the 134.00 area. This could be take PROFIT ZONE. The opposite of that trade is the breakout downwards towards 131.00. This trade is triggered with a closing candle past the red zone. 131 would be the ideal take PROFIT...