I expect an opportunity to go long on NZDUSD to form in the near future. As you can see from the trendlines we have a clear ascending channel that price is respecting very nicely. Before we go long we have to establish the following:
We are hitting the bottom trendline. Waiting for price action signal to go long now.
I have taken a long position based on a price action signal on the 15min timeframe. I am targeting the upper trendline, and placing my stop below the previous swing low point at around 0.68995.