NZDCHF | Perspective for the new weekWith 150pips in our direction since my last publication (see link below for reference purpose); It appears price is at a juncture in the market with a trading opportunity we can take advantage of.
Tendency: Uptrend ( Bullish )
Structure: Breakout | Supply & Demand
Observation: i. Price has been hovering above my Key level @ Fr0.63250 since it's Breakout in December 2020.
ii. As price continues to find Higher Lows, the tendency for a rally increases.
ii. Looking forward to a retest of Key level in the coming week to hop in the uptrend continuation.
iii. Should price enter Demand zone the fifth time, an engulfing Bullish candle from this level should be a signal to watch out for.
Trading plan: BUY confirmation with a minimum potential profit of 170 pips.
Risk/Reward : 1:4
Potential Duration: 7 to 15 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
