NZDCHF: Potential Trend-Following Trade Explained 🇳🇿🇨🇭
Updated
NZDCHF is trading in a bullish trend since the beginning of the year.
After the price set a new high around 0.6515 level, the market retraced to key structure support.
On that, I spotted a double bottom formation on 4H.
To buy the market with a confirmation, let the price break 0.642 - 0.6436 its horizontal neckline.
You need 4H candle close above that to confirm the breakout.
Goals will be 0.64 / 0.65
If the price breaks the underlined yellow structure to the downside the setup will be invalid.
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