The orange box is the "buy zone" for me and it respected the 61.8 fibo level I have and support level I have. (blue line)
I missed the "buy zone" entry buy a little but am still in this trade. targets could be a new "high" but I'm only looking to TP around the last high area.
Tight SL due to the Head and Shoulders formation forming and could potentially head down.
Overall trend for nzdusd is short
But I see a double bottom M pattern also bouncing off a channel I have.
I will be looking for TP right below the key level of .7400 and will most likely be looking for shorts around there to the -127 fibo level
I am already entered right before the end of the last week because it closed above .6850 (bottom of my channel)
R/R...
I have already entered this trade and letting it run for awhile. weekly trendline was respected and I am looking for further upside. THIS IS A LONG TERM TRADE. USE PROPER RISK MANAGEMENT.
