After this massive drop NZDUSD due to Brexit we expected a correction to the upside in order to go short. Looking at the chart now we are about to complete a three wave corrective pattern (ABC) with wave A and B having already formed. We expect price to move up as shown at the chart, complete the pattern and then drop.
For those who are interested taking this trade the entry point is the 1.27 ext of wave A, with stoploss and profit target as shown at the chart. If structure changes i will update this post.
Don't miss tomorrow my webinar on harmonic patterns! I will show you how to draw them (fibonacci ratios), a simple way to identify them into the charts and most importantly which qualify to trade.
Very amazing how you can know market down like this ? Actually market Nzd up
Fxprotrader
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Sorry i didn't understand what you are saying..
JumpJumpBunny
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Hi Sir, price will go as high as 0.7254 (Daily Pivot R1) or 0.72418 (Daily Pivot R2) which is closed to Weekly Pivot. If price break weekly pivot then pattern consider invalid.
Edgeopt
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[img][img]
Edgeopt
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RePlan [img][img]
Selhurst1
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Is the trade open?
Fxprotrader
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Yes
TNS109
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Whish stop loss is the correct one? main chart or the second one that you have uploaded recently?