NZDUSD | 1H | Bullish Strategy at play
Case for Bulls:
- Overall Bullish Trend with HH and HL
- No sign of Bearish Divergence
- Possible Bullish Flag (Not shown in diagram because of AB=CD pattern
- Bullish AB=CD Pattern with PRZ in a previous resistance zone
Case for Bear:
- Seasonality - May is a Bearish month as far is seasonality is concerned
- Current Trend does not support any bearish stance unless reversal happends
Stance : Bullish
Trading Plan : Place Buy Stop on A at 0.62522 With Stop Loss at 0.62155.
Risk Reward ratio to be managed at 1:1
- Overall Bullish Trend with HH and HL
- No sign of Bearish Divergence
- Possible Bullish Flag (Not shown in diagram because of AB=CD pattern
- Bullish AB=CD Pattern with PRZ in a previous resistance zone
Case for Bear:
- Seasonality - May is a Bearish month as far is seasonality is concerned
- Current Trend does not support any bearish stance unless reversal happends
Stance : Bullish
Trading Plan : Place Buy Stop on A at 0.62522 With Stop Loss at 0.62155.
Risk Reward ratio to be managed at 1:1
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.
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.