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Short on double top at resistance with an inverted hammer
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 ...
1 OF 3 Moves may happen here. It may hit and retest the trend line and go on a big bull run. It may pullback on the resistence of the trend line and then short then test the hourly (green) and then short again. It may even retest the trend (blue) short then retest the green and then consolodate along the trend (blue) then either big short or big long. 2nd lot of ...
Triangle formation on NZDCHF. If break to the downside enter short at break of a retest
Formation: DEEP CRAP
long off daily support level
Engulfing bar, could be the start if wave 3 of the trend.
Has pulled back to the 38.2 fibonacci level before forming an engulfing bar.
Aiming for a 3x R/R target at the 127.2 Fibonacci extension.
Let’s have the first trade of the week - NZDCHF Short.
Here are a few reasons that I think this is a wining trade.
First let’s look at NZD:
1) This is weighted average NZD versus other major currencies. See how it made a false breakout of the major channel and the black flag. Currently it broke the other side of the flag and retested the ...
The charts on here always look different to my charts on MT4 where the Bull channel is alot cleaner, but hey my MT4 makes me money so I will trust that chart. Anywho.. there is a nice Bull channel formed here, the NZD is a little wishy washy but the CHF has been weak. I think it's going to be a good trade for a day or 2.
Have a good week people!
short term goal, it has hit resistance
short for now to finish trend pattern to low S3 pivot levels.
Long off daily support level
Wedge break? which direction???
Break & retest of zone / EMA, EMA's Down, 15 Minute Double Top
Tried to explain in the chart.
Markets just bounced off the support level now going bullish towards the resistance level , Should be a Strong BUY