Fxprotrader
Short

NZDUSD: Start Watching For Price Action At Upper Parallel

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
818 6 21
In my previous idea on NZDUSD             i posted a buy setup (link in the chart) which worked great with price rallying way above my tp. It's now testing the upper parallel of the downsloping median line for the first time so we don't have good evidence to go short at the moment. What we may do is wait for a retest and then we may short it if a setup completes at the parallel. For those traders who have a tested strategy, if a sell setup based on it, completes at the current level go for it..
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what do you think about this pair ? it tried .73465 but not succeeded to move upper , i guess waiting election result to decide up or down ? or do you still think down movement will start without concerning elections?
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I don't trade based on news.. Market structure matters and at the moment we have a head and shoulders pattern at the daily chart.. I think the pair will start a sell off soon..
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boraxsus Fxprotrader
thanks , need to be patient . we should see the reversal pattern
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i think it just tested twice
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Fxprotrader PRO DennisPTran07
I has broken above the upper parallel.. We now need to draw a slide parallel with the same concept.. So we still wait
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DennisPTran07 Fxprotrader
ohhhh okay gotcha. thanks for explaining!
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