NZD has been bullish for a while and started a correction last week. this week, and on the 4hr timefame in particular we can see resistance of the 200ma - looking back in time there was one good test, but not a close below of the ma. this 200ma was just breached.
provided this 4hr candle closes below the 200ma, this should be a good short - target the ab-cd extension / completion of the flag pattern, with stops above said flag.
let me know what you think
cheers
provided this 4hr candle closes below the 200ma, this should be a good short - target the ab-cd extension / completion of the flag pattern, with stops above said flag.
let me know what you think
cheers
Note
nice little break of the flag as visible on the hourly chart here place (additional) short orders for retest of the bottom of flag
Trade closed: target reached
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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.