NZDUSD BEARISH ANALYSIS + Libra Pattern
Updated
This week's quick bullish Gartley on the Kiwi was overrun by a strong dollar and encouraging words from Yellen.
On the daily we can see that we just put in a very strong bearish week. The long term bull-trend channel was broken to the downside. A Libra Pattern has formed. My open short position from my previous Kiwi post is doing very well. Next week I will be looking to add more to my short position on some sort of pull back. Wait for price action to give you a signal on the lower time frames.
This can be a very powerful breakout to the downside as we have a lot of room to go and some serious dollar momentum.
On the daily we can see that we just put in a very strong bearish week. The long term bull-trend channel was broken to the downside. A Libra Pattern has formed. My open short position from my previous Kiwi post is doing very well. Next week I will be looking to add more to my short position on some sort of pull back. Wait for price action to give you a signal on the lower time frames.
This can be a very powerful breakout to the downside as we have a lot of room to go and some serious dollar momentum.
Comment
We have also closed below the 200DMA.Last time this happened we saw a major trend switch for over 2,000 pips.
Keep an eye on this one folks.
Comment
1HComment
Nice double top on the 4H solid opportunity to get invovled
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