NZDCHF broke the moving average, suggesting a potential trend change. This in tandem with October's monthly bear candle gives me enough reason to believe a down trend is about to begin. My orders are placed at fibonacci retracement levels 1.0, 78.6, 61.8, 50.0, 38.2, 23.6. and 0.0. Each order contains a 30 pip stop loss and no take profit target. These...
Currently in a corrective structure, just waiting for the next impulse to the downside.
Looking at the NZDCHF, it appears the pair have now completed a A.B.C Pattern, and is now ready to head lower.
Shorting this pair to the recent lows. Might move my stop loss to the 1.272 extension of the XA leg.
General weakness in NZD. Short the break of the trendline.
Waiting for the price action to break this trend line and continue to the downside. We have a sell pending order placed at 0.68730
OANDA:NZDCHF I have been watching this pairs closely today. They have reached an important price from which it can breakout UP or DOWN. I am kind of into a bearish movement which will be executed over different stages as illustrated on the chart. If it broke above the current resistance then it will try to hit 0.70700 and from here a different scenario might be adopted.
price broke through daily key level currently forming a small flag pattern this can also be a retracement move back to the daily at 0.72400 on both ideas i think price will fall down to the monthly support where it will either bounce or break monthly level (0.71700) can reject price and keep it in the same range
Chart speaks for itself :)
Been a long time since my last idea update, wish I had more time to post, but here it is! I caught this one a bit late short from .7093 Target is at .382 retracement of CD leg Stop above 113.00 Ext. of AB