FX:NZDUSD New Zealand Dollar/U.S. Dollar
The event and the aftermath has been offering us plenty of trading oppurtunites as an ABCD wave pattern has materialised. We are now at the extension level 'D' created from the counter trend move...this coupled with a rejection at the 61.8 fib retracement level of the original AB down move has given us a good selling area to look to sell. Friday's trading may have been the start of the down movement however we have not taken a position just yet but will be looking to get into this market during London session on Monday. Please leave feedback and/or comment on the post if you have a different outlook!
Comment: We have just seen rejection off the extension level...
Trade closed: stop reached