When just seeing this chart one could argue that the Kiwi is still on a Macro bull trend with its higher highs and higher lows. Even tho years and many smaller trends passes by in between them. But we cant trade that way or we will die of old age sitting and waiting for entries.
Price hit a major target back in July 2011 and revisited that area in July 2014 and from there it started its downward move. Price has now reached an interesting zone where it is very close to reach its median fair value.
I will go in and place some long trades soon. But only when I see clear reversal signs. I will pinpoint that and trade it on the Daily. Price has a clear target above and once it gets there we will find out more to see if this is still a macro bull trend or not.
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RolandV.
Goprotraders.com
Price hit a major target back in July 2011 and revisited that area in July 2014 and from there it started its downward move. Price has now reached an interesting zone where it is very close to reach its median fair value.
I will go in and place some long trades soon. But only when I see clear reversal signs. I will pinpoint that and trade it on the Daily. Price has a clear target above and once it gets there we will find out more to see if this is still a macro bull trend or not.
//
RolandV.
Goprotraders.com
