This suggests that NZDUSD will continue further down. A difficult pattern to trade, ABC patterns tend to fool everyone,
bulls and bears by having two strong moves though choppy in themselves interjected by a counter move in the middle.
ABC are counter trend moves to blow off overbought or oversold conditions before resuming the larger trend, in this
case it is down.
bulls and bears by having two strong moves though choppy in themselves interjected by a counter move in the middle.
ABC are counter trend moves to blow off overbought or oversold conditions before resuming the larger trend, in this
case it is down.
Comment:
Somehow the NZD is showing strength. It already blew past the sell signal on the 4hr and now it is on a buy signal in the 4hr.
Comment:
There is the next sell signal. Daily looks to turn over. The hypothesis stays the same: this likely sees new lows.
Comment:
Well not all signals can be profitable that is why we have stops.