NZDCHF - IN TREND ENGULFING LONG SETUP (D)
Confluences:
Bullish engulfing
Lower bollinger band outbreak
Rejected strong support/demand zone
Long term uptrend
Close above 20 EMA
TP set at the candle body high of the previous highs.
SL set below engulfing candle low (safe) or below 4H engulfing candle low (riskier).
A close above the resistance trend line will confirm further increase in price.
Will be looking to re-enter this setup if price pulls back strongly then forms a strong bullish engulfing on the 15m, 30m or 1H time frames.
Bullish engulfing
Lower bollinger band outbreak
Rejected strong support/demand zone
Long term uptrend
Close above 20 EMA
TP set at the candle body high of the previous highs.
SL set below engulfing candle low (safe) or below 4H engulfing candle low (riskier).
A close above the resistance trend line will confirm further increase in price.
Will be looking to re-enter this setup if price pulls back strongly then forms a strong bullish engulfing on the 15m, 30m or 1H time frames.
