Buying Opportunity on NZDUSD
This week, I'm eyeing a potential buying opportunity on NZDUSD, and here's my trade plan:
1. Bullish 5-0 Pattern on Weekly Chart: The NZDUSD is currently in the zone of the Bullish 5-0 Pattern on the Weekly Chart, signaling a potential buying opportunity.
2. 4-hourly Chart Setup: The 4-hourly chart presents a candlestick confirmation at the Potential Reversal Zone (PRZ), indicating a possible entry point for long positions.
3. Confirmation with 3-Bar Reversal: Despite the candlestick confirmation at the PRZ, I remain cautious and will wait for further confirmation. I'm looking for a 3-bar reversal pattern, where the next candle closes above 0.6089 and retests the level at 0.6083 before considering a buying opportunity.
By waiting for the 3-bar reversal pattern, I aim to ensure a stronger confirmation of the bullish momentum before entering the trade.
What are your thoughts on NZDUSD? Feel free to share your trade plans and insights below!
Wishing everyone profitable trading ahead!
1. Bullish 5-0 Pattern on Weekly Chart: The NZDUSD is currently in the zone of the Bullish 5-0 Pattern on the Weekly Chart, signaling a potential buying opportunity.
2. 4-hourly Chart Setup: The 4-hourly chart presents a candlestick confirmation at the Potential Reversal Zone (PRZ), indicating a possible entry point for long positions.
3. Confirmation with 3-Bar Reversal: Despite the candlestick confirmation at the PRZ, I remain cautious and will wait for further confirmation. I'm looking for a 3-bar reversal pattern, where the next candle closes above 0.6089 and retests the level at 0.6083 before considering a buying opportunity.
By waiting for the 3-bar reversal pattern, I aim to ensure a stronger confirmation of the bullish momentum before entering the trade.
What are your thoughts on NZDUSD? Feel free to share your trade plans and insights below!
Wishing everyone profitable trading ahead!
We believe that we should not slog our life away. Keep working to the minimum. How about 15mins a day?
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
tiktok.com/@raynlim
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
tiktok.com/@raynlim
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.