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glennmercer
Jun 24, 2016 1:15 PM

NZDUSD Big Short Continues Short

New Zealand Dollar/U.S. DollarFXCM

Description

Hey traders! This one's a long shot but the risk is low and the setup fits my trading strategy. A bearish wolfe wave is complete after the trendline break was retested. The completion of E is confluent with the B-D parallel which is an indication that the pattern is complete and the trend may reverse. This reversal could mark the continued downturn of the pair toward the larger TF wolfe wave target and bottom of the daily TF triangle. See related idea for larger TF setup.
GM
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