TRADE: NZDUSD SELL@.67750 Post-FOMC Update

So the FOMC and the much anticipated rate hike has come and gone. Not much happened! Much ado about nothing! Sure, there was SOME movement but nothing in the way of anything earth-shattering. In fact, there's nothing really that the charts had not already predicted to happen. Case in point. This pair. Before the FOMC, I posted a Pre-FOMC analysis:

If you compare that to the updated one now, you'll see that OVERALL, nothing has changed! I predicted ahead of the FOMC that there was to be a wave (2) down after the completion of the wave (1) and minus a small adjustment to my chart, IT'S THE SAME OUTLOOK! So the FOMC caused some panicked swinging moves that broke up above my pre-FOMC high point but just as quickly settled back below the MAJOR SR Structure and is now continuing what I predicted would happen before the FOMC ever happened. Just as if NOTHING HAPPENED! Why? Because the most of this news had already been absorbed into the prices. Nothing fundamental needed to see that. Yes, there was a "spike" up but that is caused by all the emotional fundamental traders whipsawing themselves to death! After all the emotional traders got out or settled in, the logical, technical charting took over as it is now and is going as it SHOULD'VE if the FOMC never happened. That's what we are seeing now.

My chart here makes it pretty clear what the chart itself is showing:
1. H&S pattern formed
2. There is that COMPLETED Bat
3. The FOMC swinging left a double top
4. the double top moves were both false breaks above a good SR structure zone

And now, prices are dropping off of those patterns in accordance with my wave count. Further, I have this wave (2) eventually retracing the wave (1) before it into the G-Zone reversal area at the minimum to the .618 level in a retest of the lows before taking off in what could be a MASSIVE wave (3) up if my counts are correct.

MY TRADE PLAN
I'm riding this trade down into the G-Zone should it get there. I may take some profits along the way though as you never know for sure what will happen.. Stops are above the double top highs of course.

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**NOTE**
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*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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