NZD/CHF - IS THE C LEG OVER? HAPPY NEW YEAR! :)
The pair is currently in a Flag pattern, or for the Wave traders in a Zig-Zag correction. The pair is showing bullish signs:
1) Bullish Divergence on the 4H
2) Shooting star at the lower level of the channel on the 1H
We don't know if the C leg of the Zig Zag correction is over therefore any profits you make it's wiser to lock them in as soon as possible.
My personal details:
Long @ Entry: 0.6900, SL: 0.6875, TP: 0.7000, RR: 4
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
1) Bullish Divergence on the 4H
2) Shooting star at the lower level of the channel on the 1H
We don't know if the C leg of the Zig Zag correction is over therefore any profits you make it's wiser to lock them in as soon as possible.
My personal details:
Long @ Entry: 0.6900, SL: 0.6875, TP: 0.7000, RR: 4
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Komen:
one more brief drop?
Komen:
massive drop coming around the corner..? Forming an Ending Diagonal
