Counter Trend Trade on NZDCHF
Updated
Good afternoon traders!! I hope you have had a great day so far!
Here we have the market testing structure looking left as well as the bottom of a daily channel. It is also over extended at the 1.618 inversion and recently oversold on the RSI. I was waiting for a clear rejection of that level and we just got it. I went long on a double bottom on the 1H timeframe. I am showing you this chart because the opportunity can be seen more clearly on this one.
Please feel free to comment, as, and even criticize!
Best of luck on the markets!!
Here we have the market testing structure looking left as well as the bottom of a daily channel. It is also over extended at the 1.618 inversion and recently oversold on the RSI. I was waiting for a clear rejection of that level and we just got it. I went long on a double bottom on the 1H timeframe. I am showing you this chart because the opportunity can be seen more clearly on this one.
Please feel free to comment, as, and even criticize!
Best of luck on the markets!!
Trade closed: target reached
Trade closed: stop reached
Sorry, wrong one
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