Profile image
By FX Instructor (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Buy setup in NZD/USD 4 Hours chart

Tuesday, March 28, 2017 14:33
% of readers think this story is Fact. Add your two cents.

(Before It's News)

3-29-2017 2-16-14 AMTrend is bullish in NZD/USD currency pair, four hour time frame. As I have suggested past week during my daily Live trading room session, market is falling down to complete a bearish Elliott wave y leg and traders should look for a sell trade. So, all those Forex traders who have followed my Elliott wave analysis have made the right decision as the price action has descended. Strong key support level is present at 0.6892 price level.

Be sure to check out daily Forex market updates via Live Trading Room. In my opinion, price action in NZD/USD currency pair is most probably going to drop more towards 0.6945 price area to print a bearish wave y leg which is going to complete Double Zig Zag Wave 2 leg. So, a good idea is to go long at or around 0.6945 market level to ride and trade the upcoming bullish Impulse wave 3 Elliott wave pattern.

However; if price action of NZD/USD currency pair closes a bearish candlestick below 0.6892, key support level then bullish Elliott wave count will become in-valid. In this case, I would prefer to stop trading the NZD/USD currency pair and re-look at the four hour chart.


Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.