NZD/CHF 1hr chart long.
Fib levels are showing retracements of 0.618 and 0.5.
6 hours before (including the present candlestick that hasn't properly been formed yet.), there is a hanging man candlestick that forms and acts as support on the 0.5 retracement line and the candlestick before that acts as support for the 0.618 retracement line.
I would safely assume you should either buy on the 0.5 or 0.618 retracement line and take profit at the 1.618 or 2.618 profit target.
(p.s, I've edited the retracement to add in what my modified version of the profit target)
Check this out guys and keep following me for more updates and more technical analysis.
6 hours before (including the present candlestick that hasn't properly been formed yet.), there is a hanging man candlestick that forms and acts as support on the 0.5 retracement line and the candlestick before that acts as support for the 0.618 retracement line.
I would safely assume you should either buy on the 0.5 or 0.618 retracement line and take profit at the 1.618 or 2.618 profit target.
(p.s, I've edited the retracement to add in what my modified version of the profit target)
Check this out guys and keep following me for more updates and more technical analysis.
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