NU
NZD/USD 4H - Buy or Bye Bye? Setup:
Simple Demand Rejection zone
Confluence:
HNS Breakout
Marubozu
BRN
Entry:
Buy @ 0.6300
SL @ 0.6250
TP @ 0.6400
Note: Big News releases (NZD Cash Rate) tmrw 10 am (GMT +8) morning. Please trade after news!!! Usually if the rate maintained, NZD will be weakened & If bearish momentum too strong, then setup is invalid. The entry will be bye bye.
TAYOR
Share you thoughts here ya. :)
NZD/USD (Zoomed in)When you draw your trendfibs considering the running flat for wave 2, NU should be in wave 4 retrace, which can be a flat or a triangle maybe. I would look for correction to 23-38%. Then... It may break the trend line and retrace back half the wave (50-62%) the total 5 wave if continuing trend. FOMC tomorrow. $ hr looks like sell, but you sell tonight, you could wind up in chop. Refer to my previous posts.
NU SHORT H4price has formed medium term bullish channel, an expected retest of the trendline below of the channel is an opening to short for short term
to medium term.
On weekly price is at a vulnerable price level on an inner ascending trendline, a convincing break and retest of this trendline will see price plummet to the initial ascending trendline on weekly.
The current short is a 60-70% probable trade based on a short to medium term channel .