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Timonrosso
Jun 29, 2023 9:36 AM

NZDCHF to drop again after a Short Formed M Formation Short

New Zealand Dollar/Swiss FrancFXCM

Description

Short Formed M pattern has formed where the second rounding top has a lower high than the previous.
This confirms the sellers are in control.
Now that the price has broken below the neckline, means we can expect the price to make the next down leg.
A conservative entry will be for one more leg up, test and break down.
200>21>7
RSI<50
Target 1 will be at 0.52711
Comments
JoeChampion
Good job!
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