FX:NZDUSD New Zealand Dollar/U.S. Dollar
we have a strong overall trending nzd that has just reached a fibonacci failure point after hitting a 61.8% target for the gartlety pattern it formed in the recent days.those of you with a good eye for patterns will see it right away. i am expecting nzd to make another impulse leg down and continue its trend now that we have one again run into our weekly resistance and failed to break it.we also have some divergence to go with the analysis. very good oportunity to go short this pair.
Trade active: my entry on a sell was hit not too long ago. good level to sell yesterdays bearish engulfing pattern. we are right in previous structure on a strong downtrend. also hope everyone saw thatr huge double top nzdusd put in right here. some nice sells can be made with this pair
Comment: you could look for entries now. we can sell the yesterdays bearish engulfing pattern at a great point. i do believe we will pullback down
reason why prices rised today. i was expecting a retracement and my sell limits got hit but i was wondering what was causing prices to continue to rise. noticed this pattern. now that the pattern has completed i believe at the tip of this 61.8(green ray) we can get a good short position and ride thhe wave down