NZDUSD Tested the Resistance and Going Back to Support

This is a very similar structure to EURUSD . The stochs are bottoming out on 4H and 1D are starting to top out. Assuming that the 4H stochs will trigger a retrace and the 1D stochs start to point downward, I will try to enter a trade on the retrace assuming the downward momentum is confirmed.

Support for this idea:

• History repeats itself
  
• Stochs appear to be topping out on the 1D
  
• MACD on 4H has has already showed signs of downward pressure but need the same for 1D.
  

This is a profitable 5:1 trade at T1.

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Cheers!

These ideas are not financial advice.

Kommentar:

Just a reminder, this is just an idea. We still need to wait and see how this potential trade evolves and react accordingly.