There is forming a nice flag rigth in the tendence of the flag of the last impulse. I think is going to happen just the same than before so lets juns wait for the breakout.
There is also a good support so if it breaks right now I would put my stop loos just down it, otherway we`ll be looking for support levels. Once it breaks out use a trailing stop or move...
It is just touching a 6 years downtrend, several times respected, thats strong. But we dont know, what we know is there are two options.
A. It breaksout and goes all the way up making going even more down and eurusd going up.
B. It goes down again respecting the tendence and starting wave B, also changing the way of the DXY starting wave B as well.
Wait for...
GBPNZD
Has the moment arrived? it looks like the GBPNZD has formed a nice setup to short. The end of wave C is close, maybe already finished. Anyway
we can see that it has formed a double sealing in a hard connalty resistence in 1.88770. Tendence going down quite close from were we are now. Did I mention RSI is already overbought on W1, D1 and H4?
We aim to...
Lets take some pips going down on wave 2, just about to touch support, if it breaksdown resistance trend in 81 we will go to the long term uptrend around 78-75, anyway once wave 2 is done we are heading to 100 in wave 3, what do u think?
Good trading!!
