EverythingForex
Short

Trade Update: NZDUSD - Power Of Patterns! Trading The EED. +695

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
714 4 30
So. You are doubting that patterns work? Not sure why they work? This pair has just been a pattern factory and if you had the foresight to spot the CORRECT patterns, you could've cashed in as you can see on this chart. And no. These are NOT after-the-thought patterns I placed on this chart post-move. These were ALL predicted! If you have followed me, you might've picked some of these pips as well.

So let's get to the trade. I posted a FREE trade idea here 8 days ago that I gave to my subscribers. Here's the link to that post: TRADE ANALYSIS NZDUSD             Trading the EED             and Contracting Triangle

In that post, I suggested that there was an EED             that was completing from the wave C of the leg C of the larger contracting triangle. I took a SHORT trade from the completion of that EED             and the point E of that EED             which finished right at the upper TL of that larger contracting triangle. That confluence of patterns was good enough for me to take the trade. Here's the chart BEFORE the current drop:
snapshot

What's happened since then as you can see in the main chart is....so far, it has moved +180 pips (if following my trading methodology, you're up +720 pips). Congrats to you if you followed my idea. So what to notice here is that now prices have formed a valid POTENTIAL Cypher pattern that would complete right near the bottom TL of the larger contracting triangle. Don't know what I'm talking about? Look on my website for the complete analysis. Here's the link: "(F) Trade Update: NZDUSD             - Going With The Triangle So far...+695 pips"

Don't forget that this leg D of the contracting triangle must also be an ABC 3-wave move and currently, I don't see any wave B yet. So if you are short right now, keep that in mind. And if you are thinking that you want to GET SHORT, wait for that wave B retrace.

*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!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.

My subscribers caught this trade right from the top. Did you? If not, why not? If you were one of my subscribers, you did. And you'd be up +695 pips (if you follow my trading methodology). Are these the kind of trades you look for? Do you want to learn how I do it? Simple. Just go to: www.efxselect.com and subscribe. Just announced! $1 7-Day trial offer! Limited time only! Subscribe today!

If you desire to receive ALL my analysis on pairs I trade and cover as well as REAL-TIME trade signals, consider joining my private group and my members. You'll get REAL-TIME trade signals and analysis as the trade happens and discussions those trades live. Interested? Go to: efxselect.com for more info.

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NietoFX
8 months ago
Very helpful the way you see this patterns. Thanks for sharing.
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EverythingForex PRO NietoFX
8 months ago
you're welcome
Reply
arif_awan
8 months ago
NZD POSSIBILITIES
Reply
EverythingForex PRO arif_awan
8 months ago
No friggin" idea what that is!
Reply
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