Top and Bottom analysis on NZDCHF by ThinkingAntsOk
We will analyze two timeframes on NZDCHF
Let's start with the Daily one:
a)The price made a Bear trap after breaking a massive support zone and then re-entering the zone
b)Currently, the price is above the support zone and is above two channels also providing support
c)Now we can see the price finding resistance on a descending trendline
d)If the price breaks the current trendline we expect a bullish movement towards the next one
4HS CHART:
a)We can see a full ABC pattern completed
b)This pattern was formed on the edge of the current descending trendline
c)If the corrective Structure is broken we expect a move towards the next target at 0.63500
d)For those trying to catch an opportunity on this analysis you can look for corrective structure on the 1H chart after the breakout of the 4HS correction.
Let's start with the Daily one:
a)The price made a Bear trap after breaking a massive support zone and then re-entering the zone
b)Currently, the price is above the support zone and is above two channels also providing support
c)Now we can see the price finding resistance on a descending trendline
d)If the price breaks the current trendline we expect a bullish movement towards the next one
4HS CHART:
a)We can see a full ABC pattern completed
b)This pattern was formed on the edge of the current descending trendline
c)If the corrective Structure is broken we expect a move towards the next target at 0.63500
d)For those trying to catch an opportunity on this analysis you can look for corrective structure on the 1H chart after the breakout of the 4HS correction.
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