In a current trend channel with lower highs and lower lows.
Based on current estimate we will make the new top in about 1 to 5 days.
It is a very nice risk/reward trade.
For more information on our strategy please view our 'Scripts' page on our Trading view profile.
Our V2 strategy shows the SL and multiple TPs on the chart too - these are customisable based on the ATR of each pair.
We have set these so that TP1 is 1:1 TP2 is 1:2 TP3 is 1:3 RR.
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NZDCHF trading in a descending channel
price rebounded from channel resistance
price below HVN around 0.59000
MACD shows bearish momentum
RSI in downtrend line below 50
so its expect bearish movement to support level around 0.57600
The price is already closed at the trap zone, I am expecting a very little more move to downside, then we will be looking for a strong bullish candle right into the channel back.
Our entry will be around 63.650 area with a Risk Reward of nearly 1 to 7
We will look for a brek of the suport and trap some more sellers, then a strong bullish candle into the channel back will be our confirmation for a long trade.
Expected entry is from 0.58700 with a Risk Reward of 5
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NJ showing a perfect strucuture and approached a very strong resistance level. Expecting a reversal on this point. Sketch up your own trade setup and make sure you meet with the required...
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We can see on the chart that due to support and resistances, there is down trend in this case, but before it goes down the price will probably hit in this case lower resistance, and in another case the higher one but we will see that only if we wait to bumps off the lower resistance or it's going to break it.
NZDCHF had a strong downfall and price reached strong support area so we can expect a retracement to the resistance.
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This week has been tricky with our strategy on a lot of AUD pairs in particular.
In the main they have provided profit opportunities but those in group trading the 1:3 rigid plan saw a lot of trades turn back against them - which can of course happen.
It takes a strong mindset and a confidence that over time the numbers and stats pan out to leave these...
![NZDCHF: NZDCHF : LONG OPPORTUNITY [1H]](https://s3.tradingview.com/k/K1epAeFK_mid.png "NZDCHF : LONG OPPORTUNITY [1H]")
