EURNZD 240 Long – RSI & PA breaks, probable LL, ABCD repeat

OANDA:EURNZD   Euro / New Zealand Dollar
There is a 4H DT since 16 Oct 2019. It has repeated an ABCD pattern for 4 cycles. It is possible it will repeat again starting at the possible current LL. The RSI and PA have already broken their trendlines . The repeat of the ABCD pattern also tops out near a 1D dynamic resistance trendline. I plan to watch the 15M chart at market open to see if it starts back upwards.

Here is a teeny tiny shot of the 4H chart to see all the repeats of the ABCD pattern .

And the 1D to see the trendline.

Comment: This one is still not ripe yet. But the TP is pretty clear – the end of the ABCD coincides with both the falling dynamic resistance trendline and the SR at the recent LL. Plus a potential bullish failure swing is shaping up. Once that completes it will trigger my trade.

Comment: I missed the entry and sat this one out - but it worked out as described above.


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