Fxprotrader
Long

NZDUSD Bullish Flag Offers Another Buy Setup

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
867 6 40
Price is moving in a corrective structure into a descending channel having already completed three waves and it's about to complete a fourth one. Most likely we may have another smaller wave into this correction in order to have a five wave corrective structure. We may buy from when we should have the five wave pattern completion (at a key uptrend) or we should wait for price to break above the channel and aim for another impulsive up move.
Comment: As expected price broke above the correction.. Watch for any buy setups before going long.
Comment: Tremendous results from simple chat wave patterns. This flag pattern worked wonders..!

RSI showing bearish divergence right now
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Fxprotrader PRO DavidMarcy_TradeHuntFx
Divergence is a sign that price may reverse soon.. Here we have a clear buy situation.. But soon this upmove will end, i agree with you..! Thanks for the comment..!
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for sure! its annoying but my trading strategy wont let me take this trade because of that divergence. Nice charting though
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Fxprotrader PRO DavidMarcy_TradeHuntFx
From what i read from your comment you look like a very disciplined trader.. Well done mate.. Other setups will be there for you..!!
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Definately. High discipline leads to better consistency!
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Fxprotrader PRO DavidMarcy_TradeHuntFx
Absolutely..!
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