NZD weighted index on the 12H time frame, we can see the market has tapped off a previous zone of reversal while creating convergence on MACD, and creating an inverted head and shoulder formation.
Seeing as NZD and AUD move the same way, and both currencies look very bullish, I expect NZD to gain strength across the board for the next month or so....
NZDCHF buy set up -
Buy from daily zone (blue) up to resistance trend line. Support trend line is currently favouring Daily zone in terms of entry. Going back in histroy Daily zone holds quite well with numerous touches making it a very good support area.
HEY GUYS THANKS FOR THE FOLLOWS
NZDCHF IS GOOD FOR ENTRY - IM DONE WITH TRADING FOR THIS WEEK - IM A SWING TRADER I MAINLY JUST HOLD POSITIONS AND LET THEM PLAY OUT -HAVE A PROFITABLE WEEK AND A BLESSED WEEKEND
Everything is explained on screen!
For those who keep sending me direct messages, I am a Student of the Diamond Forex Academy (instagram.com) and more so my personal tutor is Masum, a Top Author on TradingView, take a look (uk.tradingview.com)
Technical Analysis for a SHORT:
Daily Downtrend, currently in a LH
Multiple Trendline Taps from Multiple Timeframes
H1 61.8 Golden Fib Retracement
Formed LH on H1
Bear MA Crossover
NZDCHF has been on our watchlist for a while now and looks to be setting up nicely with the break and close above the key daily support of 0.6500 last week. The 4hr timeframe is printing an uptrend creating the higher highs, higher lows. Typically in a trend the market will re-test areas of structure as it moves higher and as we can see we have a 38.2 fib sitting...