NZDUSD has been in a downtrend on the Daily chart for a very long time. We may be in the middle of another retracement giving us a great opportunity short into strength. This will be a Huge trade and would require a 350 Pip Stoploss. But the Reward is over 1,200 Pips. This is an excellent opportunity for a Position Trader as it will take months to play out.
I have made a "Kill Zone" using a variety of technical patterns.
1. We have a Bat Pattern completion @ .7565
2. ABCD Pattern (just barely makes into my kill zone) completion @ .7414 along with the 78.6% Fib Retrace
3. 1.618% Ext - Pulled from lows to B leg of Bat Pattern. It has a nice confluence with the Bat Pattern
This will be a HIGH CTS (Combined Technical Score) trade IF market will push back up there.
Best of Luck!
I have made a "Kill Zone" using a variety of technical patterns.
1. We have a Bat Pattern completion @ .7565
2. ABCD Pattern (just barely makes into my kill zone) completion @ .7414 along with the 78.6% Fib Retrace
3. 1.618% Ext - Pulled from lows to B leg of Bat Pattern. It has a nice confluence with the Bat Pattern
This will be a HIGH CTS (Combined Technical Score) trade IF market will push back up there.
Best of Luck!