NZDUSD Trade Idea

On the charts we have a clear convergence of the rsi indicator and price as marked by the yellow lines. Follow the indicator. Bollinger bands are bullish with price reaching for the supply zone. The theory here is that when price reaches the supply zone it means that traders are buying into supply where an astute trader will be waiting with a sell order to go short. Possible short positions exist so plan accordingly. Your stop loss will be the top of the orange supply band or a little higher depending on your risk tolerance if price should continue to move higher. Your profit potential is a conservative 3:1 of the width of the supply band putting this at about the 0.69594 area.