NZDUSD testing channel support, remain bullish

FX:NZDUSD   紐元 / 美元
Buy above 0.7041. Stop loss at 0.6946. Take profit at 0.7197.
Reason for the trading strategy (technically):
Price is testing channel support and it might make a fake bearish breakout because we see major support at 0.7041 ( Fibonacci retracement , Fibonacci extension , horizontal pullback support). We remain bullish above this level for a push up to at least 0.7197 resistance ( Fibonacci extension , horizontal swing high resistance).
RSI (34) sees multiple ascending support lines holding current price action up. Only a break of these liens would trigger a bearish move.
Thanks for sharing, I see a correction to be next from your profit zone. I uploaded my weekly outlook to YouTube if you like to compare. Safe trades!
TimStuyts TimStuyts
@TimStuyts, sorry wrong link.
7 days ago you posted Short setup of this pair, and now when it hits SL, it suddenly remains bullish :D
Glendooie stuyoman
@stuyoman, My sensible sell will trigger at 0.71394. The spur of the moment sell order I have active is 14 NZD in loss. Fourteen NZD is the price I am paying for getting into the trade before I should have. RSI still saying overbought. I think a sell is inevitable, but it was a dumb idea to enter the market before the sell order became apparent.
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