This is going to be a huge trade to the upside when the price breaks the corrective structure, I am anticipating a break to the upside very soon, keep a keen eye on this one as the upside potential for this pair really huge.
Thanks for sharing, I like your buy set-up although I prefer a last leg lower first. In my comments you see why. Good trading to you all!
piphunters
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yes quite possible, thanks for your view.
Koryphaeen
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I especially like this setup, I took this trade on the first bullish signal at around 2.17 and riding it since than. I added to this position 2 times since and will add to it by all corrective structures (taking new shorter term trades at each breakout to the upside from the minor corrective structures) keeping the original trade open till around 2.7, that's my final target :) if price action will not break the down trend line which you presented, I will look to close my positions because it means it will make a 5 wave correction instead of a 3 wave one. (three drives instead of AB=CD). good luck to you too! ;)
piphunters
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Thanks, it should reach your final target once it breaks out of the corrective structure, NZDUSD is already going down and when GBPUSD starts upside it will not be much of a problem.
kmk.msp
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Friday has a bearish engulfing candle. Will you still think that it will breakout soon or it will revisit previous low to form double bottom and than breakout.. I am already long @2.154. Your all trades are awesome
kmk.msp
piphunters
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Thanks, I am looking at the possibility for a break this week itself or next week latest.
kmk.msp
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thanks
piphunters
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my pleasure
kmk.msp
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Strong Bearish move lower. What you expect now. Is your this setup still valid
piphunters
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yes but I will consider it valid as long as we stay in the corrective structure, if this is going to break down then I will have to change my view.