This is the more detailed entry for my long position. I shared this set up previously and was waiting for the sell off down to my buy zone.
All analysis is on the chart.
TP 1 is the previous resistance and fib -0.618 extension
TP2 is longer term at 0.66
Looking to go long if this the current 4 hour candle can finish bullish..
if it doesn't happen will look for a different candle stick set up but will have to be at the same level to complete the inverted H&S pattern.
Any questions feel free to ask
NZDUSD has recently broken a daily trendline and now in a corrective wave which may be the beginning of a new impulsive wave or another complex correction. With dollars strength yesterday, this could possibly cause the pair to re-test its bullish order candlestick at 0.62625 before making any uptrend or a correction.
Counter trend pullback in to the broken bearish TL and support zone.
Inverse right shoulder to form at 0.62500 and then go long to new highs at 0.64200
All positions and orders are marked on the chart.
I still believe these need to get back and correlate with each other somehow.
which means there need to be major dollar weakness somewhere along the line.
Could this be the start of it.. maybe the US/China trade war will go badly....... but i cant see it.
Completed head and shoulders pattern formation on NZDUSD .
There is a high chance to see bullish continuation to higher levels of structure.
Now we are waiting for a bullish breakout of a neckline to buy the pair.
Target levels are based on structure:
T1 - 0.6380
T2 - 0.6335
Please, support idea with like. Thank you!)
Trade war truce has come to carry you home?!
Swing-Lo, Sell Kiwi, China-Us talks will carry you home.
NZD and AUD have thrived in the past weeks on a weak dollar and more business with China, now the Big-Bully is back!! And he wants a big chunk of the cake....or else!!!
The S&P 500 got some ticks on Friday night at trade closure due to that Trump-Xi deal...