NZDUSD - 2 Possible Paths
Updated
The previous double top didn't pan out, depending on how you trade them. So now we have at least two potential path options at this point.
1. We've been following upwards with more movement after each flag/triangle pattern breaking, if it happens again we'll BUY.
2. If the current formation (which just broke slightly through the top trend line) turns into a double top or some other sort of reversal pattern, we'll wait a bit and then SELL.
Of course something entirely different can formulate and then we'll re-analyze.
1. We've been following upwards with more movement after each flag/triangle pattern breaking, if it happens again we'll BUY.
2. If the current formation (which just broke slightly through the top trend line) turns into a double top or some other sort of reversal pattern, we'll wait a bit and then SELL.
Of course something entirely different can formulate and then we'll re-analyze.
Note
Well we broke through the top trend line but didn't get the consolidation we were looking for. So far looks like it is turning into possibility #2. Will be ready for a sell upon completed confirmation. Note
Target 1 reached, stop loss at BE.
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