Hold Shorts Swings on NZDUSD - Scalping opportunities near term
Weekly wave count is almost textbook > riding up the correctional B wave if everything carries on as they are now. If so, will be targeting .78 ~.079 within next 3 months before starting to have bearish view all else being equal. Despite a negative carry for long positions, will not have much impact in long swings.
Immediately looks like pendant / flag as per linked chart (not missing much if you have not seen). Don't think this will hold though despite holding long position.
Instead, have outlook for coming 2 weeks for this to be channeling sideways between 0.723 and 0.72 range or grinding up slowly following cyan (light blue) dashed line - so good scalping environment if this holds true and will be on the look out to add longs if this does trend up slowly.
Immediately looks like pendant / flag as per linked chart (not missing much if you have not seen). Don't think this will hold though despite holding long position.
Instead, have outlook for coming 2 weeks for this to be channeling sideways between 0.723 and 0.72 range or grinding up slowly following cyan (light blue) dashed line - so good scalping environment if this holds true and will be on the look out to add longs if this does trend up slowly.
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