NZDCHF near significant support

16 Apr 2023

NZDCHF is near a very significant daily support. Wil be watching the price action around 0.55230. If there is a daily close below that level, next level to watch is the ATL of march 2020 around 0.52870.

19 Apr 2023

Catatan

Price still making lower highs but seems to be starting a sideways consolidation. Still in wait and see mode.

20 Apr 2023

Trade aktif

Price is clearly in consolidation mode now.
From current price to first level of major resistance is around 100 pips. SL below the daily support and major pivot is around 17 pips, which makes a risk to reward ratio of 6 to 1.
It is a trade worth taking. Opened a small long position targeting just below 0.5632.