NZDUSD: ANOTHER 340 PIPS SHORT / IN CORRECTIVE PHASE NOW.
The most recent impulsive move (380 pips) was to the downside, which also broke a prior support and trend-line support. Looking for price-action to return to 0.6850/0.6900 (completing a flat correction) before continuing to the downside. This move can put a few pips on the score board, about 40-80 pips if you buy at current market but I anticipate the next impulsive larger move will be to the downside, my preferred trade if price action trades to the 0.6850/0.6900 area. However If price action breaks the 0.6710 level first, I will be selling, only sooner.
This is a 4 Hour chart so allow for the trade to manifest itself and be a patient trader...
Wait for the chart to show you something familiar because price action doesn't move in a straight line !
This is a 4 Hour chart so allow for the trade to manifest itself and be a patient trader...
Wait for the chart to show you something familiar because price action doesn't move in a straight line !
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.