Categories: Forex Education

Buy dips in NZDUSD

Kiwi’s been going south for some time now but i think it might have found a bottom at least for now. The H4 chart bearish trend line and most recent resistance zone have been breached up. There is also bullish convergence and double wave duplication on the H1 chart. Ideally we want the pair to correct itself back to the 38.2 – 50.0 Fibonacci zone where we can look for buy opportunities. Watch out for double wave correction down, ideally accompanied with bullish hidden divergence.

Technical Analysis:

H4 – bearish trend line broken along with resistance zone

H1 – bullish convergence, double wave cycle completed

Entry:

H1 – Follow the 38.2 – 50.0 Fibonacci zone and look for buy opportunities after a double wave correction and/or bullish hidden divergence.
Target 1 – 0.6726
Target 2 – 0.6831
Target 3 – 0.6985
Stop Loss – below last low created

Yours,
Vlad

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.