Everything is explained on screen!
For those who keep sending me direct messages, I am a Student of the Diamond Forex Academy (instagram.com) and more so my personal tutor is Masum, a Top Author on TradingView, take a look (uk.tradingview.com)
The pair has been oversold for more than 200 pips and it usually reverse after a 170-180 pip movement! It is also showing a daily bullish divergence and its forming a W on the 4hr and Daily timeframe ! Its Also near the 0.50 fib level ! NZDUSD looks like its gonna reverse its current bullish trend as it is consolidating near the 0.6740 are
Bearish divergence on the 4hr timeframe + nice rejection around the 0.6920 area ! NZDUSD overbought for the past 4 trading sessions and USDCHF reached yearly highs ! Nice M formation on the daily and 4 hr timeframe !
3rd touch of the bearish flag, nice weekly rejection zone as well as 0.382 confluence. Stops an 1H ATR above the highs. Will be looking scale out/breakeven this trade at a test of the lower flag trendline.
First time I am doing this, let me know what you think!
Ok so, key things to look out for, 26th and 28th of Feb!
So I have two green arrows representing my temporary long while, the two green horizontal lines indicate their resistant points.
Likewise the two red arrows are for my short positions.
Lets keep an eye on this, we will start to have an idea of what...