good morrning happy weekend as we see market bellow bb and also in timeframe its in support level
then am gonna lock for buyin this level to hit tow target
tp1=6.26800
tp2=6.31300
Morning starts with a good trade, wolves🔥
There is an ascending triangle on NZDSEK .
There was a strong bullish sentiment before. So could it be a signal of growth?
Follow the chart and look for the breakout carefully.
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Pattern: Channel Up on 1M.
Signal: Bullish as the pattern made a Higher Low and the bullish leg is half-way through to the next Higher High.
Target: 6.4500 initially (just below the 1W Resistance) and 6.65 (just below the 1M Resistance) in extension.
The pair is trading within a 1W Channel Down (RSI = 47.865, MACD = -0.019, Highs/Lows = 0.0000) since March and the neutral technical indicators suggest that the price made a Lower High within the Channel and is preparing for the next bearish leg towards a new Lower Low.
On top of that the Lower High rejection (on the inner dashed trend line) took place on the 1D...
Looks like market was forming a down channel and has already broken out but expecting some more upside to follow.
Also, with this down channel we see an inverse head and shoulders within which in-turn should breakout to the upside and therefore more upside to be expected with both patterns observed.
Yellow horizontal lines indicate target zones for more...
The pair successfully made a Higher Low within the 4H Channel Up (RSI = 57.295, MACD = 0.008, Highs/Lows = 0.0000) and at the moment is bouncing back up. Our estimate for the next Higher High is 6.2020 but we'll use a more moderate TP = 6.1800. However this time it will be face heavy Resistance at 6.1250 which is the Resistance of the 6.0495 - 6.1250 High...
The price is trading on a stable 4H Channel Up (RSI = 68.273, MACD = 0.025, Highs/Lows = 0.0242) and is approaching the patterns potential Higher High ~6.1250, which also happens to be the Resistance on 4H. This combination creates an optimal sell opportunity on a very short term basis, TP = 6.0600.
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NZDSEK made a Lower Low on the 1W Channel Down (RSI = 39.460, MACD = -0.025, Highs/Lows = -0.0723) slightly lower than its bands suggested but it still rebounded. On a 1D basis it will face significant Resistance at 5.9440 but if broken, should extend for the full 1W Lower High near 6.050.
The pair is trading on a medium term 1D Channel Up (RSI = 58.436) on slow pace (MACD = 0.018, Highs/Lows = 0.0216, B/BP = 0.0626) since the 5.9500 bottom. The dotted lines are supports and long entries. Our TP = 6.2500, ext = 6.2800.
