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Nzdchfshort

Wolfe Wave Sets NZDCHF ETA TonightAs discussed in our latest webinar, Wolfe Waves are a 5-wave pattern which shows supply and demand as price moves towards an equilibrium. In essence, Wolfe Waves rely on three tops and two bottoms or the reverse, pointing to the correct direction, in order to evaluate where the next move is going. For the NZDCHF pair, points 1 and 3 have been identified as the tops of a potential bearish Wolfe Wave, while points 2 and 4 appear to confirm this formation, given that they satisfy the Wolfe Wave conditions. The two lines extended from points 1-3 and 2-4 respectively converge, once extended, to set the ETA, which is found to be at approximately 19:00 server time tonight. The extension of the line from points 1-4 sets the expected equilibrium price, which is found to be at 0.6873. Wolfe Wave Pattern (Image) However, the price does not need to touch the EPA line at exactly ETA, while the price can also reach ETA without reaching the EPA level. These known pitfalls of fundamental analysis suggest that traders need to be careful, especially in days where volumes are low, such as today. While the RSI and the MACD, along with the SMA crossing the LMA at 10:00 server time, show signs of bearish behaviour, traders need to follow proper risk management rules in order to minimize their downside. Come join us today at HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Short
by HotForex
NZDCHF breakdown?Analysis -NZDCHF looking bearish after showing signs of reversal after buyers pushed price up into resistance, wherein sellers stepped in and pushed price down before the daily candle close. -The price action resulted in a daily candle pinbar setup AT RESISTANCE which is a bearish sign. -On the 1H time frame, price just broke a bullish trend to the downside. -There is also bearish RSI divergence on the 1H time frame which further eludes to price possibly reversing to the downside. Entry, Stops and Targets -Short Entry: 0.68655 -Stop Loss: 0.69045 (Set stop above the high of the daily reversal candle) -Take Profit: 0.67953 (Set targets at a minimum of 1.8 times your stop depending on entry) *Always practice good risk management and know your limit!*
Short
by Mankz
NZDCHF approaching support, potential bounce! NZDCHF is approaching our first support at 0.6714 (horizontal overlap support, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 0.6789 (38.2% fiboancci retracement). Stochastic (89,5,3) is approaching support and we might see a corresponding rise in price should it bounce off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
NZDCHF approaching support, potential bounce! NZDCHF is approaching our first support level at 0.6714 (horizontal overlap support, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 0.6789 (38.2% Fibonacci retracement). Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
Possible NZD/CHF Short position!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1-4 days Actions on - A – Activating Event Currency Pair creating a Double Top . B – Beliefs Market will find resistance at current levels at @ 0.688 - 0.693 levels and move towards the first Target 1 level @ 0.678 FX:NZDUSD Trade Management Entered @ Sign up for details Stop Loss @ Sign up for details Target 1 @ 0.678 Target 2 @ 0.6538 Risk/Reward @ 4.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
NZDCHF approaching resistance, potential drop!NZDCHF is approaching our first resistance at 0.6819 (61.8% Fibonacci extension, 61.8% Fibonacci retracement) where we might see a drop in price to our first support at 0.6532 (61.8% Fibonacci extension, Horizontal swing low support). Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Short
by Klimex
NZDCHF approaching resistance, potential drop! NZDCHF is approaching our first resistance at 0.6742 (Horizontal pullback resistance, 50% Fibonacci retracement, 100% Fiboancci extension) and a strong drop might occur pushing price down to our major support at 0.6591 (Horizontal swing low support). Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill