Another start to the week. Monday 17th of June lets go.
Following a very successful short on Gold on Friday from 1354 down to current market at 1333 for our team we are looking for our next winning trade.
Today we are taking a look at a bullish setup on New Zealand dollar versus US dollar following the formation of a Tweezer Bottom candle...
Yellow = Buy zone
Green = Sell Targets
Red = Stop Loss
Tweezer bottoms (Green Box) - Reversal pattern
Falling wedge - Reversal pattern
Stochastic RSI low. Bull Cross
RVI - Need to break resistance to confirm continued momentum upward.
Smaller timeframes are overbought which should pull the price back within to buy range before continued upward action.