3 reasons to go short on NZDUSD

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
95 7 2
1. No higher high

2. Bearish AB-CD             pattern completed

3. RSI overbought
OK., guys. What matters here is not, whether the high itself if higher than the extreme price recorded before, but rather HOW the very high has been taken. When the trend is strong, the high should be taken out in a manner excluding any discussion whatsoever. The high to the left should be taken with ease on close, so noone should have any doubt about it. If the market doesn't do that and fails to make further advancements, we'll probably see a corrective move (some call it an upthrust - a Wyckoff method). But the multiple highs don't get taken too easily. There's another high to the far left (2013-04-11) and then - yet another high even higher. That's why let the market show how strong it is and we should rather wait for the first failed rally to call the swing move done.
Sure, but, there IS a higher high; :-) what you probably mean is no higher close?
CapMoore ForceFollower
I see a higher high.
CapMoore ForceFollower
It's a higher high even on a close basis. But it's of less importance either way here.
fximperija ForceFollower
A Higher High is a high above the previous one with a close above. A wick which is higher than the previous one with close below the previous high is not a higher high, please don't dissect the term.
CapMoore fximperija
If you mix highs and closes yes, but it's exotic use certainly.
fximperija ForceFollower
On this daily chart is no HH, but it depends on the stream provider and time zone.
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