NZDUSD!
FIRSTLY you can see that the trendline and the fib tracement are inline together so that's a strong confirmation for me, if I was to move the fib extension lower to the lowest its been which is october youll find that it is still in like with the trendline but it wont be the 61.8 its the 50%!
also another confirmation i have is the head and shoulder pattern which is a strong reversal signal , its already developed the left shoulder and the head and now its inline with the left shoulder as its looking like creating a right shoulder!
ill be entering this trade depending on the 4hr candle and how it will close!
FIRSTLY you can see that the trendline and the fib tracement are inline together so that's a strong confirmation for me, if I was to move the fib extension lower to the lowest its been which is october youll find that it is still in like with the trendline but it wont be the 61.8 its the 50%!
also another confirmation i have is the head and shoulder pattern which is a strong reversal signal , its already developed the left shoulder and the head and now its inline with the left shoulder as its looking like creating a right shoulder!
ill be entering this trade depending on the 4hr candle and how it will close!
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