NZDCHF OUTLOOK

Tendency: Uptrend ( Bullish )
Structure: Harmonic | Channel | Head & Shoulder
Observation: i. Price action has been going through a correction phase since the impulse leg XA.
ii. Rejection of the Demand zone signals that sellers might have lost steam since impulse leg and might need a correction into 618/786 to gain momentum.
iii. Price accelerates towards Moving Averages.
iv. HSH structure is observed
Price falls to a low (Shoulder) and subsequently rises back to what is called the neckline.
The price falls below the former low to form a Lower Low (Head) and then again rises back to the original base (neckline).
Price drops a third time, but to a level approximate to the first (Shoulder), before appearing to rise back up to the base or neckline of the pattern again.
v. If price action moves as speculated, we shall be looking at a Cypher!
Trading plan: BUY possibility with minimum potential profit @ 1,000 pips.
Risk/Reward: 1/4
Potential Duration: 20 to 30 days

** Please note that Stop Loss/risk-reward ratio is subject to individual risk appetite per trade and account size.

Watch this space or Telegram channel for updates on lower time frames as price action is been monitored.


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