NZDUSD Trend Continuation Idea with Confluence
After continuing to push down, we see that there is a complex pull back here
Looking at the completion of an equal measured ABCD move lining up with a Fib inversion trade set upt. Also there is some Fibonacci confluence in that zone.
Two ideas for stops and targets are shown on the chart. The smaller one is the conventional Fib inversion trade set up. The second is for Traditional Trend continuation.
We are pushing into previous support which should become resistance so if you are a bit more conservative, you might be waiting for a lower time frame entry such as a double top.
Looking at the completion of an equal measured ABCD move lining up with a Fib inversion trade set upt. Also there is some Fibonacci confluence in that zone.
Two ideas for stops and targets are shown on the chart. The smaller one is the conventional Fib inversion trade set up. The second is for Traditional Trend continuation.
We are pushing into previous support which should become resistance so if you are a bit more conservative, you might be waiting for a lower time frame entry such as a double top.