Possible buy coming up on the kiwi dollar. I would like to see this minor bear trend we are in continue down into the buy zone
IF PRICE REACHES THE BUY ZONE
I will look for bullish divergence, i will look for a bullish candle pattern.
Even though it is not an "ideal cypher" it's completion is at 618 Fib of the bigger move which means we could see a lot of buyers stepping in there.
The dollar is also looking weak which coincides with this idea.
But first we need to reach the buy zone.
This could be a good risk to return trade, possible 10:1 here. but first things first, we need the buy zone.
if price breaks the minor trend before the zone,
I will connect the low's to create a bullish trendline and I would like to see a h&s complete before entering, I will ride that h&s up to the green take profit zone
IF PRICE REACHES THE BUY ZONE
I will look for bullish divergence, i will look for a bullish candle pattern.
Even though it is not an "ideal cypher" it's completion is at 618 Fib of the bigger move which means we could see a lot of buyers stepping in there.
The dollar is also looking weak which coincides with this idea.
But first we need to reach the buy zone.
This could be a good risk to return trade, possible 10:1 here. but first things first, we need the buy zone.
if price breaks the minor trend before the zone,
I will connect the low's to create a bullish trendline and I would like to see a h&s complete before entering, I will ride that h&s up to the green take profit zone