Super Bearish Weekly Wick & RSI Divergance - Critical Point
The market retracement gave the DXY a lifeline which has caused it's opposite pairs to take a huge dip leaving one of it's pairs - the NZD/USD with a super bearish wick at a critical resistance zone which stems all the way to Summer of 2016.
X/USD pairs have been having a whale of a time since the market sell off back in March and I have been expecting a reversal here from the NZD/USD for a good while now.
The bearish RSI divergance is indicated by the red diagonal lines.
My target here, as indicated on the chart is the 0.6800 zone & with a tight stop loss above the resistance we are left with a pleasant risk to reward here.
With such a huge rejection at a very obvious key level, the markets finally seeming to be heading into a correction phase (which might be filthy if the fed stop printing) and the clear bearish RSI divergance all kindly indicate that this is due a sell off.
Just my 2 cents.
X/USD pairs have been having a whale of a time since the market sell off back in March and I have been expecting a reversal here from the NZD/USD for a good while now.
The bearish RSI divergance is indicated by the red diagonal lines.
My target here, as indicated on the chart is the 0.6800 zone & with a tight stop loss above the resistance we are left with a pleasant risk to reward here.
With such a huge rejection at a very obvious key level, the markets finally seeming to be heading into a correction phase (which might be filthy if the fed stop printing) and the clear bearish RSI divergance all kindly indicate that this is due a sell off.
Just my 2 cents.
Nota
Price action has neatly followed my trend projectionsTrade chiuso: obiettivo raggiunto
Target has been reached. Huge returns if you held throughout!
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.