NZDUSD overextension upwards. What goes up must come down..
We can see an overextension to the upside over a short period of time. Price is looking for wave 3 top.
I am looking to capture the move from wave 3 to wave 4 to the downside before another move up to wave 5.
Could rebound on the pale blue trend line that I have drawn.
Well overbought on the MFI and red overbought signal on the Stochastic.
:)
I am looking to capture the move from wave 3 to wave 4 to the downside before another move up to wave 5.
Could rebound on the pale blue trend line that I have drawn.
Well overbought on the MFI and red overbought signal on the Stochastic.
:)
Note
there was also a big inverted Head & Shoulders pattern that formed and propelled the price upwards so fast..
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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.