A Bearish Gartley Pattern has formed on NZDCHF. Possible downtrend.
Price making a double top at .71800 resistance level. Not making a higher higher - 4 hour showing bearish momentum. the MACD 4,9,3 breaking previous support level. RSI showing NZD is over bought and signaling a pull back. FIB retracement between ,5 and .618 levels 1:3 Risk/ Reward Please comment your thoughts.
May be premature at the moment, but if we see some bearish price action at the 0.6710 to 0.6725 area, it could be seen as a lower low and hence good area to go short
FX:NZDCHF GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1 38.2% AD TP2 61.8% AD BUTTERFLY Point B: 78.6% XA Point C: 38.2% AB 88.6% AB Point D 161% ext BC 261% ext BC Targets: TP1 61.8% CD TP2 127% CD Wait for divergence... ;) Safe Trades;
Hi, Throwing up another chart from my weekly analysis for any feedback. A double bottom has formed around the 0.64000 level and is rising. IMO if price breaks through the 0.66600 level resistance should occur at 0.68500. I believe this would be a chance for a reversal set up if a bearish candlestick pattern formed. Eg: High test. I would be looking to exit...
Stoploss: 1.5365 Profit Target :1.5220
The Reserve Bank today reduced the Official Cash Rate (OCR) by 25 basis points to 2.5 percent. particularly in China. Combined with increases in the labour supply from strong net immigration, posting a financial stability risk. CPI inflation is below the 1 to 3 percent target range,
An opportunity has presented itself on the NZDCHF key level up fib retracement trade set up. Details on Chart and much much more on how to go about this trade in the coming days. My strategy of trading is keeping it on price action only. And being as simple as possile to ensure you understand what is happening and how it is happening. If you like, follow me...
overbought and is due for the usual retracement. Keep in mind 1000 hr momentum has been flat and is now slightly trending towards NZD strength. This means that the time window for this trade will be tight .The TP will probably not get hit but we can lock in the gains with a trail at half way. Stop out @ a little above new highs to allow some margin of meaningless...
Pattern completed!! Leaving oversold territory! Target on chart!
NZD pairs have been bearish across the board expect against the CHF experiencing a short term bullish move. While the moving average is rather invalid in this analysis serving no clear trend spotting, the resistance zone suggests that this pair is back on track to continue its bearish trend. The bearish trend is not established with the moving average, but rather...