Expecting a bullish continuation. Reasons for this assumption are:
- Impulsive structure on both 4H and Daily TF
- Price has been rejected thrice at 50 Fib Level, combined with a bullish divergence
- Impulsive break out of the triangle with a strong close on the 4H TF
- Projected target is 0.9880 0.9900 level
Happy Trading!
- Impulsive structure on both 4H and Daily TF
- Price has been rejected thrice at 50 Fib Level, combined with a bullish divergence
- Impulsive break out of the triangle with a strong close on the 4H TF
- Projected target is 0.9880 0.9900 level
Happy Trading!
Trade active
Entered at 0.9582Note
The 1H candle close and the rejection at the 61.8 Fib level led me to opening another buy on this pair. The target for this order is the same as for the first one at around 0.9880 - 0.9900 level. SL placed below the last low on the 1H.
Happy Trading!
Trade closed manually
Second order closed at breakeven, first order with a small profit. On higher TF's I'm still favouring longs and for now - the structure is still valid. The current leg might be just a corrective one - but with regards to today's RBNZ I'm not feeling comfortable leaving my positions open at the moment.
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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.