NZDCHF idea.
There are 3 roadmaps here for ideas.
Take note of a possible LARGER ABCD move inside a smaller ABCD move.
You can clearly identify the possible pattern formations that could play out via harmonics. Price must break the purple solid line to exit the range and become bullish on DAILY. I see this double bottom as a FALSE PATTERN if it does not break the horizontal median orange line. Should price continue beyond above the deep blue sea 65MA line we will head to the green 200 MA line and most likely get resistance the closer we move to it.
Price holds under the 65 deep blue sea daily MA. I feel we will have 1 more down before we turn around and go up.
USDCHF is peaking higher and higher and will probably correct. Meantime AUDNZD is pulling down NZDUSD is trying to pull up. Dollar is weakening and price is in a downward trend on NZDCHF overall.
Should we pull down one more we will have a double bottom inv. left shoulder / head / into a bullish right shoulder formation for a turn around.
We are at the BOTTOM of the monthly of this pair and have spiked down 3 times on weekly but keep pulling up. Price is trying to break lower with more and more force but also shows resistance since everyone sees we are so low they will want buy.. I believe we can get a closed weekly new low before we begin a monthly bull run.
Thoughts? Thanks for viewing as always trade safe and manage risk!
Peace. Love. Trade.
Take note of a possible LARGER ABCD move inside a smaller ABCD move.
You can clearly identify the possible pattern formations that could play out via harmonics. Price must break the purple solid line to exit the range and become bullish on DAILY. I see this double bottom as a FALSE PATTERN if it does not break the horizontal median orange line. Should price continue beyond above the deep blue sea 65MA line we will head to the green 200 MA line and most likely get resistance the closer we move to it.
Price holds under the 65 deep blue sea daily MA. I feel we will have 1 more down before we turn around and go up.
USDCHF is peaking higher and higher and will probably correct. Meantime AUDNZD is pulling down NZDUSD is trying to pull up. Dollar is weakening and price is in a downward trend on NZDCHF overall.
Should we pull down one more we will have a double bottom inv. left shoulder / head / into a bullish right shoulder formation for a turn around.
We are at the BOTTOM of the monthly of this pair and have spiked down 3 times on weekly but keep pulling up. Price is trying to break lower with more and more force but also shows resistance since everyone sees we are so low they will want buy.. I believe we can get a closed weekly new low before we begin a monthly bull run.
Thoughts? Thanks for viewing as always trade safe and manage risk!
Peace. Love. Trade.
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