NZDUSD breaking out of consolidation? Needs confirmation.

From neutral to bearish (see previous idea/post link below) especially if we see a daily close as confirmation.

Measured target for this move shown in the chart.

This is a reversal trade and is a contrarian position against the overall preceding trend. I tend to view these setups as lower probability so I'm managing my risk here as best I can. Let's see what the market gives us.

This is not trading advice. Trade at your own risk.

Comment:

Always important to wait for confirmation. Breakout is a dud for now. Very confusing price action here means more sideways most likely.

Trade active:

Some strong bearish PA is pushing the price lower. Bears are trying to fulfill this breakout maybe. If successful, we could be seeing a move down to the 0.69 handle.
Went short with a small position just in case. Again, overall, I think this is a low probability setup at this point (but with a good R/R). Not trading advice. Please DYOR.

Trade closed: stop reached:

Lost the small position here. Always wait for confirmation, kids!