Hi traders,
On the NZDUSD we have a completed AB=CD pattern on the 4 hourly timeframe. We also have a smaller 161.8% Fibonacci extension at the same area. There has been a nice rejection off of this area.
Target will be the 38.2% Fibonacci retracement of the bigger move, at 0.71410. Stop goes below point D.
Cheers!
On the NZDUSD we have a completed AB=CD pattern on the 4 hourly timeframe. We also have a smaller 161.8% Fibonacci extension at the same area. There has been a nice rejection off of this area.
Target will be the 38.2% Fibonacci retracement of the bigger move, at 0.71410. Stop goes below point D.
Cheers!
Trade active
Fair enough.Trade closed: stop reached
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Related publications
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.