So guys, we had a huge uptrend in NZDUSD, currently the pair is on a raging channel ( marked with green and yellow lines ), with a slight downtrend marked with green line aswell.
It might retest the support ( yellow line ) and go all the way back up to re-test the resistance of the raging channel ( green line ), or even break the resistance line.
I've chosen the lowest re-test ( marked with red line ) as my STOP LOSS.
I'll watch this pair closely and wait for it to re-test the support and starts its way up, and then ill place my LONG position.
Do you agree ?
It might retest the support ( yellow line ) and go all the way back up to re-test the resistance of the raging channel ( green line ), or even break the resistance line.
I've chosen the lowest re-test ( marked with red line ) as my STOP LOSS.
I'll watch this pair closely and wait for it to re-test the support and starts its way up, and then ill place my LONG position.
Do you agree ?
