maggies
Long

Cup and handle forming perhaps?

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
25 2 1
On the weekly and daily chart I see a cup pattern building. The top is 0.7725 -7730. If so, price would then reverse to form the handle before heading upwards.
Does anyone else see this?
dchua1969
3 months ago
nice chart, as a newbie, what i see is there are different camps using different indicators. like in NZD this pair, majority are leaning towards a sell for the past few days but if any short , they get squeeze, espeically after it went about the 73 mark and moving towards 74 to 75 level. Does your indicator lean towards a short term long towards 77 ? thanks
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maggies dchua1969
3 months ago
Thank you. I'm newish, got a lot to learn, and can easily be wrong! But, there was an ascending triangle that looked as though it could lead to a sudden drop in price. Price pushed above the top, 0.7350, and invalidated it. If the patterns and trends I can see are correct, I am expecting the price to go generally upwards to about 0.7720, then fall again to about 0.7400, and then continue upwards. So I took a long position at 0.7390 and will keep it, hoping I am right and it will reach 0.7720. But we'll see!
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