Analysis:
- Double Bottom on 4 hr
- MACD Divergence
- Strong support on Daily
- Rejection of support
- Break of trend line and re test
Negative:
- Daily has downward momentum
- Weekly not finished forming candle and also has downward momentum
I am not going to get into this trade until I see a few other NZD pairs move and close the next 4 hour candle. This trade has good potential with 2:1 or maybe a 3:1.
- Double Bottom on 4 hr
- MACD Divergence
- Strong support on Daily
- Rejection of support
- Break of trend line and re test
Negative:
- Daily has downward momentum
- Weekly not finished forming candle and also has downward momentum
I am not going to get into this trade until I see a few other NZD pairs move and close the next 4 hour candle. This trade has good potential with 2:1 or maybe a 3:1.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.