Long Pound-Kiwi
With the following noted a long scenario appears to be in play:
- bullish reversal bar (near resemblance to bullish pin bar/low test bar)
- resistance becomes support (at ~2.3260 which stands out as a weekly level dating back to November 2009 )
- retest of 20 ema and close above
- trend line support (third touch)
- Rejection of 0.618 Fibonacci level and 50% retracement line, and close above
- Stochastic and RSI convergence
entry - above high of today's bar
stop loss - below low of today's bar
target - previous swing high or higher
- bullish reversal bar (near resemblance to bullish pin bar/low test bar)
- resistance becomes support (at ~2.3260 which stands out as a weekly level dating back to November 2009 )
- retest of 20 ema and close above
- trend line support (third touch)
- Rejection of 0.618 Fibonacci level and 50% retracement line, and close above
- Stochastic and RSI convergence
entry - above high of today's bar
stop loss - below low of today's bar
target - previous swing high or higher
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