Hi traders,
On the NZDUSD we have a completed AB=CD pattern on the 4 hourly timeframe. We also have a smaller 161.8% Fibonacci extension at the same area. There has been a nice rejection off of this area.
Target will be the 38.2% Fibonacci retracement of the bigger move, at 0.71410. Stop goes below point D.
Cheers!
On the NZDUSD we have a completed AB=CD pattern on the 4 hourly timeframe. We also have a smaller 161.8% Fibonacci extension at the same area. There has been a nice rejection off of this area.
Target will be the 38.2% Fibonacci retracement of the bigger move, at 0.71410. Stop goes below point D.
Cheers!
Trade active:
Fair enough.
Trade closed: stop reached
