nzdusd 4h analysis
Updated
Hello.
There's an alt shark pattern completed and it reached its first target. if the pair couldn't break the first target (current support level drawn on the chart) and the market makes a reversal candle here then we can expect the pair can reach the bullish target to make a butterfly pattern. but if it could break the current support level, the second target for its bearish corrective is shown on the chart.
There's an alt shark pattern completed and it reached its first target. if the pair couldn't break the first target (current support level drawn on the chart) and the market makes a reversal candle here then we can expect the pair can reach the bullish target to make a butterfly pattern. but if it could break the current support level, the second target for its bearish corrective is shown on the chart.
Note
So the pair couldn't break the support area then it went up to the specified targets then started its bearish movement.In this case, you would wait for the break-out, and it didn't happen so you would go long to reach the first target then close and wait for reversal candlestick or breaking out if the resistance area, and going for another long position to reach the 2nd target. then waiting for the reversal candlestick, and it happened. after that engulf candle you could go for a short position. you could have 3 successful trades.
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