Nzdchf-sell
NZDCHF Sell IdeaD1 - Potential double wave down, price still has room lower towards 61.8 fibo level.
H4 - Special cycle completed, we have two critical zones that has formed based on the fibo levels of the cycles.
Price has reached the second critical zone, bearish divergence.
We may now look for more evidences of bearish pressure and then start looking for sells.
NZDCHF Sell IdeaD1 - Price is nearing the critical zone formed by the two trend lines and a strong resistance zone. Hidden bearish divergence.
H4 - Price is nearing the critical zone formed by the fibo levels of the cycles.
Once the price reaches this zone, we may then look for evidences of bearish pressure and then start looking for sells.
NZDCHF Sell IdeaW1 - Potential double wave, price is nearing the 61.8 fibo level.
D1 - Bearish hidden divergence.
H4 - Price is moving inside a channel, price has also created a triangle pattern and is respecting it so far. Bearish divergence. There are two possible scenarios from here:
Scenario 1 – We may expect the price to move lower, break and hold below the bottom of the triangle, we may then start looking for sells with more bearish evidences.
Scenario 2 – We may now expect one more push higher towards the critical zone and then we may expect the price to move lower, break and hold below the bottom of the triangle. We may then start looking for sells with more bearish evidences.
Conservative approach – If you want to be more conservative then wait for the price to break below the bottom of the channel as well.
NZDCHF Sell IdeaD1 - Bearish convergence, we may now expect pullbacks in the form of double wave or a range.
H4 - Currently it looks like the pullback that we were looking for is happening in the form of double wave up.
If the price moves higher and reaches the critical zone with bearish divergence, we may then start looking for sells with more bearish evidences.
NZDCHF Sell IdeaH4 - We may now expect pullbacks to happen from the current zone.
Once the pullback completes itself, we may then expect the price to provide one more push higher towards the critical zone.
Once the price reaches this critical zone, we may then start looking for sells with bearish evidences.
NZDCHF Sell IdeaH4 - Hidden bearish divergence.
H1 - Price reached a critical zone and is moving lower.
Price is currently breaking below the uptrend line. If we get a valid breakout here we may then start looking for sells with bearish evidences.
Invalidation: If the price breaks and holds above the high at 0.6452 then this setup will be invalidated.
NZDCHF Sell IdeaD1 - Triple cycle down completed, price is currently trading at the 50% correction of the previous down move which is a strong resistance zone.
H4 - We have a magnet zone based on the 50% fibo retrace zone of the daily triple cycle and the top of the bullish channel.
Price has reached the magnet zone, we may now look for evidences of bearish pressure and then start looking for sells until price reaches the bottom of this channel.
If the price breaks below the bottom of this channel then we may look for further continuation.
Invalidation: If the price breaks and holds above the magnet zone then this setup is invalidated (false breaks can be neglected).
NZDCHF Follow upH4 - Correction starts to look like a potential channel as price found support at a new trend line.
We can try and sell the top of the channel if a setup presents itself, as long as 0.71 is holds.
Alternatively a confirmed break below 0.6980 should open the doors for the bears as well.
NZDCHF Sell IdeaD1 - Price is at the top of the range.
H4 - Classical setup - divergence (red arrows), followed by convergence (blue arrows).
As long as 0.71 is holding, we will be looking for a correction and then can look for sells once we see a breakout out of this corrective pattern.
First target will be the middle of the range around 0.6920
Final target is the bottom of the range around 0.6750
NZDCHF Sell Idea UpdateUpdate for the Sell Idea that we are following from last week.
On the H4 chart we will have a second false break if the current candle closes 0.7067.
A break below the most recent trendline and the most recent low is what I am looking for on the H1 chart.
Look for a small correction after the breakout and then enter to increase the risk reward ratio.
Final Target 0.6920.
Protection above last high which is currently at 0.7103 or so.
Invalidation – break above 0.7103 before a triggered would invalidate this setup and we will look for entries higher.