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NZD/CHF

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NZDCHF trade ideas

NZDCHF: Long Position Swing TradeTechnicals : Positive Points: Quaterly Chart: NZDCHF and NZDAUD has hit yearly ADR. Whenever this has happened on a quarterly chart after making a new low, a quarterly rally start up for about 2 to 3 quarters at least. So, at some point, shorts will unwind. NZDCHF has stayed, relatively below the quarterly 50-moving average since the 1980s. So, the 50 quarterly moving average can act as some kind of resistance or mean. Upon entering this long trade after the engulfing pattern, price has not reached its daily ADR. Monthly Chart: Engulfing monthly bullish candle pattern at support. There is weekly up regular divergence. The price has closed above the kijun and the ichimoku tenkan and kijun has crossed up, which suggests the end of the price move down. Also, of note, the price has crossed above both tenkan and kijun simultaneously with and engulfing bullish candle pattern after a short retracement, which is very bullish. Weekly Chart: Weekly Divergence with a morning star pattern. Weekly Bottoming Extreme Indicator Weekly RSI Low with lower low. Whenever this occurs with this instrument, a rally occurs. Daily Chart: MACD broke above the water line with that engulfing candle. RSI dipped n' flipped above the 50 level upon the close of the engulfing candle. Negative Points: There is cloud resistance overhead, which could cause price to delay its rally or enter a period of consolidation. Trade Plan: Long now with a stop below 61.8% fib below the engulfing bullish pattern. Target: close to 0.6050
Long
by Rocketman
NZDCHF potential expansionAfter price had been moving up with decent momentum, it began to retrace back down in a form of a descending channel, which is a form of internal liquidity. Price held this formation all the way down till it tapped a long term demand zone, taking out liquidity below the established channel in the process. It preceded to break an internal structure strong high, which was a sign that price could now be ready change direction and begin with its expansion to the upside. It eventually took out liquidity at the top of the channel as well where after it began to retrace back into a demand zone formed by this internal directional shift.This demand zone was respected as well, and a directional shift on even lower timeframe occurred. This now gives us the opportunity to jump in on the expansion, our target being the latest internal high as it is weak and awaits to be taken out.
Long
by BlackTygaTrades
Price extended. Short opportunity Analysis: Price is now extended and we will begin shorting with a smaller position size. It is possible that price will continue its upside momentum thus the smaller position size for the initial trade recommendation. Short opportunity: Short at market reopening towards 0.53431 as Take Profit - 1 level. (Trade is already active) Despite being an active user of TradingView, cannot seem to remember posting trade ideas on this wonderful platform.
Short
by TrainingTrader