KKN_Investment_Limited

NzdUsd swing trade set up

Panjang
FX:NZDUSD   Dolar New Zealand / Dolar A.S.
NZDUSD
A couple of things to point out on this one.

1. We have the formation and completion of a bullish gartley pattern.
We can't really say if its in line with the trend since that is one hell of a gartley.

2. There is a strong resistance area between 0.68 and 0.69. It has acted as both support and resistance for a couple of years now.

There are three ways how this can play out.
1. We take the trade and it goes straight down and becomes a loser. (Bummer)
2. We take the trade, price rises to the 0.68 to 0.69 region and then heads back down and becomes a loser. In this case we will have a trail stop so that we will at least be taken out at break even. (Not that much of a bummer)
3. Price takes of in our favor, breaks the resistance region and hits our take profit. (Ideal scenario)

As of now we just wait and see how this plays out.

PS This might take a couple of weeks to play out. Be patient with it.

Penafian

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