This pair is now offering new opportunities to join the bulls. We can look for buy setups as long as the last low is holding.
Now any pullback is an opportunity to go long. Remember that we might see two types of correction
Flat correction or Double wave correction
Regardless of how things will happen, bottom line is - as long as 1.5230 holds, we are after buys.
Hey guys another setup for when the market opens. The idea is to buy the Breakout of the flag since i am expecting the bigger structure to be a running flat and then we can aim for the 270 however like i mentioned in the previous post, i shall be taking my profits out at the 3:1.
D1 - We have bearish divergence followed by bearish convergence, a classical setup.
Currently pair is under bullish pressure from the bullish divergence and we should see a correction up.
H4 - Bears are under a lot of pressure put by bullish divergence.
We can start looking for buys once we see a break above 1.54.
In this scenario, suitable strategies would be...
Hey traders,
On the EURNZD we can see that we are getting closer and closer to the gap that formed a few weeks ago after the weekend. What usually happens is that these gaps turn into a great support area. Combined with the 61.8% Fibonacci retracement on the bigger timeframe, this seems like a nice setup.
Cheers!
the market has been trending down for a while on 4 hr time frame....recently has been in a nice descending channel on 1 hr....previous double top (yellow bubble) (notice rsi downward divergence and upward movement on chart inside of yellow bubble) looking for shorting opportunity around 1.514142 (61.8) looking for possible evening star pattern or engulfing...
The pair is forming a termination pattern which could mean a major correction of a downtrend or a complete reversal.
The downtrend becomes exhausted and the price is less volatile. Therefore price behaviour is featured by small up and down moves, which finally resolve up.
However, it is reasonable to wait for a breakout from the current pattern and a small...
Looking at the EURNZD pair, we can see the pair has now broken through the trend line. Looking at the A.O indicator, we can also see Bullish Divergence . The pair broke above, and closed above the trend line and is now currently retesting the trend line, after bouncing off the 78.6 fib level.
Here is my EURNZD view. I see a beautiful AB=CD pattern that would also complete an 1-2-3-4-5 Eliott Waves Pattern. On smaller timeframe we can also see another AB=CD pattern. Bollinger band is also oversold on mutiple timeframe. It is also a strong supply and demand.
D1 - Price is at the 100% Fibonacci expansion zone.
Bearish momentum slowing down and bullish divergence started forming. Also band to band move and half more.
H4 - Bullish divergence forming and it is a great zone to start looking for buys.
Whereas if the price will complete a potential triple cycle by going lower, the next levels to follow will be 1.5120.
