NZDUSD: Sell break out

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
1406 8 41
The pair is inside a weekly corrective structure which is going up, currently an uptrend which is part of this structure looks to be getting broken which could provide a possible short opportunity.

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don"t you think this may be wolfe wave
piphunters MeshalAlnashri
which exactly is? I have no idea :)
Would the market be going up actually be just an impulse or a false spike ? I had the same plan to short as soon as it breaks out of the trendline , but its behaving differently.
piphunters maddude22
it's been very reluctant just like AUDUSD so I would short only after a very good confirmation, this can be an opportunity or it can still go up and we wait for next opportunity, it's gonna crash sooner or later
maddude22 piphunters
Alright, thanks a lot for all your ideas. Since i'm already in this trade, i'll just hold onto it now considering i'm already 25 pips down.
As you said, it'll reverse sooner and I dont want to leave this trade in a massive loss :)
piphunters maddude22
good luck, the impulse will probably be a big news event.
Great ..also have similar Idea
piphunters Roncriss
thanks and happy trading!
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