I’m currently watching NZDUSD for a potential buy opportunity.
My anticipation is for price to pull back to the 0.59308 level a zone that aligns with previous structure support and potential bullish reaction.
Why This Level Matters
Previous Support Zone – 0.59308 has acted as a reaction point in recent sessions, indicating buyer interest.
Pullback Play – Waiting for price to retrace into value before looking for bullish confirmation.
Trend Context – On the higher timeframes (W1/D1), price is holding above key swing lows, suggesting buyers may defend this area.
Trading Plan
Wait for Pullback – Price to approach 0.59308.
Look for Confirmation – Bullish candlestick patterns (engulfing, pin bar) or rejection wicks.
Entry – Only after confirmation.
Stop Loss – Below recent swing low / invalidation zone.
Targets – First target near recent swing high, with partial profits taken along the way.
Risk Management Reminder
This is not financial advice — always manage your risk, as market conditions can change quickly.
My anticipation is for price to pull back to the 0.59308 level a zone that aligns with previous structure support and potential bullish reaction.
Why This Level Matters
Previous Support Zone – 0.59308 has acted as a reaction point in recent sessions, indicating buyer interest.
Pullback Play – Waiting for price to retrace into value before looking for bullish confirmation.
Trend Context – On the higher timeframes (W1/D1), price is holding above key swing lows, suggesting buyers may defend this area.
Trading Plan
Wait for Pullback – Price to approach 0.59308.
Look for Confirmation – Bullish candlestick patterns (engulfing, pin bar) or rejection wicks.
Entry – Only after confirmation.
Stop Loss – Below recent swing low / invalidation zone.
Targets – First target near recent swing high, with partial profits taken along the way.
Risk Management Reminder
This is not financial advice — always manage your risk, as market conditions can change quickly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.