the pair reached a possible zone for a short position. Wait for a breakout
NZDCHF currently rejecting a weekly trendline whilst nearing 38.2% fib level. RSI is also showing 4hr divergence. Possible short positions from here.
Short going from Daily TL, SL set to previous high and TP set to range support area
nice rejection from 0.69000 wait for it easy d3rba.
Sell upon rejection Invalid is when price travels well above the 1.131% based on the structure
D1 - Price is nearing the critical zone formed by the two trend lines and a strong resistance zone. Hidden bearish divergence. H4 - Price is nearing the critical zone formed by the fibo levels of the cycles. Once the price reaches this zone, we may then look for evidences of bearish pressure and then start looking for sells.
Overview: UPTREND. Price just broke through a major resistance @ 0.68630 with an engulfing candle. Using our Fib extension from A, B and C, we speculate a TP @ fib ext 1.272 (0.72815) Speculation: BUY Potential TP @ 383pips SL @ 95pips
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The upward structure is already complete so now we look at shorting this pair.
If price breaks down the pennant we are sellers targeting the trendline. Then we want to buy for last highs. We don't want to open any trades if price breaks the pennant upside. Thanks for your comments and likes. Good luck
NZDCHF: - PRICE TOUCHING THE FALLING RESISTANCE LINE. A SELL POSITION MAY BE OPENED WITH TP TO THE BOTTOM OF HIDDEN SUPPORT LINE.