NZDUSD Potential 2X Bottom trade
My overall Bias is bearish until price hits the Daily Structure Level
Price has put in a New Structure Low. Thus giving me the indication price wants to go lower.
With the RSI over sold could price put in a Outside Return at this level? I think it could.
If Price puts in a Double Bottom @ this level I would look for a Outside Return back up into the .6500
even handle and Possibly a little higher into structure. GIving me a nice little profit. Before it rolls on down to the Dialy Structure level.
IF price does not give me a 2X Bot. Then I think the next level
for a potential Outside Return would come in somewhere around the Kill Zone.
(Daily Structure level, Fib Ext level and the completion of the AB=CD Pattern)
If you really want to be a successful trader you must Trade with a plan that has percise rules.— Rick Rozela (@Rozela99) January 13, 2016
Price has put in a New Structure Low. Thus giving me the indication price wants to go lower.
With the RSI over sold could price put in a Outside Return at this level? I think it could.
If Price puts in a Double Bottom @ this level I would look for a Outside Return back up into the .6500
even handle and Possibly a little higher into structure. GIving me a nice little profit. Before it rolls on down to the Dialy Structure level.
IF price does not give me a 2X Bot. Then I think the next level
for a potential Outside Return would come in somewhere around the Kill Zone.
(Daily Structure level, Fib Ext level and the completion of the AB=CD Pattern)
If you really want to be a successful trader you must Trade with a plan that has percise rules.— Rick Rozela (@Rozela99) January 13, 2016
Commentaire:
Watch how price reats to the daily structure level.
