NZDUSD:Bearish AB=CD Pattern and 0.618RET
The bearish AB=CD pattern will complete at 0.7238 level and the 1.618EXT of BC is at 0.7247 level.
The 0.618RET of previous drop is at 0.7238 level.
Meanwhile the previous structure works at about 0.720 levels.
So it is good to sell short at 0.720-0.725 levels when price action gives signals in the PRZ.
SL:above 0.725
TP1:0.715
TP2:0.710 and further more
The 0.618RET of previous drop is at 0.7238 level.
Meanwhile the previous structure works at about 0.720 levels.
So it is good to sell short at 0.720-0.725 levels when price action gives signals in the PRZ.
SL:above 0.725
TP1:0.715
TP2:0.710 and further more
Trade active
Comment:
TP1 reached.