Possible buy coming up on the kiwi dollar. I would like to see this minor bear trend we are in continue down into the buy zone
IF PRICE REACHES THE BUY ZONE
I will look for bullish divergence, i will look for a bullish candle pattern.
Even though it is not an "ideal cypher" it's completion is at 618 Fib of the bigger move which means we could see a lot of buyers stepping in there.
The dollar is also looking weak which coincides with this idea.
But first we need to reach the buy zone.
This could be a good risk to return trade, possible 10:1 here. but first things first, we need the buy zone.
if price breaks the minor trend before the zone,
I will connect the low's to create a bullish trendline and I would like to see a h&s complete before entering, I will ride that h&s up to the green take profit zone
IF PRICE REACHES THE BUY ZONE
I will look for bullish divergence, i will look for a bullish candle pattern.
Even though it is not an "ideal cypher" it's completion is at 618 Fib of the bigger move which means we could see a lot of buyers stepping in there.
The dollar is also looking weak which coincides with this idea.
But first we need to reach the buy zone.
This could be a good risk to return trade, possible 10:1 here. but first things first, we need the buy zone.
if price breaks the minor trend before the zone,
I will connect the low's to create a bullish trendline and I would like to see a h&s complete before entering, I will ride that h&s up to the green take profit zone
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Each week, I send an email breakdown of the best forex setups, watch zones, and market trends so you can trade with confidence.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
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.