NZDUSD has been in a downtrend on the Daily chart for a very long time. We may be in the middle of another retracement giving us a great opportunity short into strength. This will be a Huge trade and would require a 350 Pip Stoploss. But the Reward is over 1,200 Pips. This is an excellent opportunity for a Position Trader as it will take months to play out.
I have made a "Kill Zone" using a variety of technical patterns.
1. We have a Bat Pattern completion @ .7565
2. ABCD Pattern (just barely makes into my kill zone) completion @ .7414 along with the 78.6% Fib Retrace
3. 1.618% Ext - Pulled from lows to B leg of Bat Pattern. It has a nice confluence with the Bat Pattern
This will be a HIGH CTS (Combined Technical Score) trade IF market will push back up there.
Best of Luck!
I have made a "Kill Zone" using a variety of technical patterns.
1. We have a Bat Pattern completion @ .7565
2. ABCD Pattern (just barely makes into my kill zone) completion @ .7414 along with the 78.6% Fib Retrace
3. 1.618% Ext - Pulled from lows to B leg of Bat Pattern. It has a nice confluence with the Bat Pattern
This will be a HIGH CTS (Combined Technical Score) trade IF market will push back up there.
Best of Luck!
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.