NZDUSD: Interesting setup
I'm entering gradually into a long position here. $NZDUSD has built a significant monthly mode here, which could evolve into a breakout and eventual monthly uptrend. The weekly is neatly oversold into support, and flashed a buy signal courtesy of RgMov, so going long gradually here is a good idea.
Don't risk much, I would consider a drop below 0.689 a good invalidation level for this trade.
4h and daily charts show potential for a rally as well, so you could see rapid progress within a couple days, hence, you should average in during 3 days until you have maxed the risk on the trade. Risk a maximum of 0.5-1%.
Good luck,
Ivan Labrie.
Don't risk much, I would consider a drop below 0.689 a good invalidation level for this trade.
4h and daily charts show potential for a rally as well, so you could see rapid progress within a couple days, hence, you should average in during 3 days until you have maxed the risk on the trade. Risk a maximum of 0.5-1%.
Good luck,
Ivan Labrie.
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This might result into a flop, I'm out.
(not yet confirmed)