If You flip over to the daily Chart
of the NZD/USD
, you will see that we are currently in a bullish trend
. There is a bullish cypher
pattern nearing completion and a potential AB=CD
move completing a little lower. The cypher
has a higher chance of being filled but has a little more risk than i would like. the AB=CD
does have a smaller risk however price may not get there before turning around. Whichever one you decide to take will depend on the type of trader you are i.e you risk appetite. Cheers!!!