This is the right shoulder, worth the risk. Well done!
robus
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@Yahia.Awes, Absolutely. such trades are not very often.
PHL
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@robus, Seems like it's more in fashion to sell the downtrendline at the moment.
Generalmonkus
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If u look at a chart from the 1950s until now, in my opinion, this is a HUGE buying opportunity, agree. I'm expecting one more drop to take out the last spike low back in Nov as per the pic in the comment above. I believe these are longs that can be held for a long time! Thanks for posting.
robus
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@monk, The only thing to watch out for is the high swap rates for this pair(at least on CFD) , so more times it takes to reach target, less profitable it gets.
@robus actually, there is a possibility that it isn't a triangle and we are in the early stages of a wave 3 already. The X wave could actually be 1, then zig zag for 2, now 3…
PHL
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Nice mutiple target set-up to watch out for. At the moment we are still bearish but if we get a close above that downtrend line this certainly can become a live trading opportunity.
robus
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@PHL, Absolutely, I am excited for this trade setup.
Generalmonkus
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@robus, If you check out other NZD crosses, eg. GBPNZD, EURNZD, they all point to the NZD being crushed. I've been long GBPAUD also and remain so. Do you know of a tradeable NZD ETF that can be shorted?