nakedchartist
Short

EURZND cash rate short

FX:EURNZD   Euro Fx/New Zealand Dollar
shown in the chart will be 2 boxes , blue and red. Blue denotes a strong bullish expansion week, and thereafter price consolidated for 5 weeks. The chart pattern looks to be distributive in nature, and it is confirmed with a bearish expansion week. Right now price is back at the neckline. I will like to see this as a retest of this distributive strucuture and look to short somewhere close to the retest.
There is a f5 and line chart confluence but h1 setup not shown yet.
I hv placed a hard stop of above this whole structure, but cash rate on thursday will decide the next impulsive move.
this is a flop, despite all the bearishness that has appeared in previous week. So indeed, my edges is best when there is both a d1 n h1 setup both appearing that makes it best for trades to be taken.
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Ok you say distributive.
Um, how would accumulative look?
Reply
it will look like the upside down.
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