NZDCHF Support n Resistance 161019
Price has finally made a break to the downside of the consolidation.
It would be best if the bar can close below the resistance area and
we hope to see a retrace to retest the support turned resistance and the trend line creating a PA with momentum for a valid trade.
One for the road!
It would be best if the bar can close below the resistance area and
we hope to see a retrace to retest the support turned resistance and the trend line creating a PA with momentum for a valid trade.
One for the road!
Note
H4 seems to be progressing as planned.However, Somethings not to like are that the daily candle closed above trend line and that the following candle after the breakout candle in H4 retraced almost 100%.
This IMHO gives this trade some minus points for a good trade.
Either manage trade with caution if you are in the trade (still looks good on H4) or
tweak trend line on the daily and see if it breaks out again today (repeating the process).
Order cancelled
Invalidated.
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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.