NZDUSD - Bearish Shark Pattern on Daily Chart (Very good R:R)
We have a number of high impact news for NZD and AUD this week, especially interest rate decisions for AUD tomorrow, NZD on Thursday.
This might determine the completion of the shark pattern, which in this case, only has 1 valid PRZ.
Shark patterns always have very reasonable risk/reward ratio.
The R:R for this pattern is at 4.7 (TP1) and 8.6 (TP2).
Price alerts have been set, looking forward to trade this pattern, you guys should as well.
This is a daily chart, do be patient before price hits PRZ.
I will update if pattern completes.
Cheers =)
This might determine the completion of the shark pattern, which in this case, only has 1 valid PRZ.
Shark patterns always have very reasonable risk/reward ratio.
The R:R for this pattern is at 4.7 (TP1) and 8.6 (TP2).
Price alerts have been set, looking forward to trade this pattern, you guys should as well.
This is a daily chart, do be patient before price hits PRZ.
I will update if pattern completes.
Cheers =)
Comment:
Higher inflation expectations have rallied NZDUSD by about 50 pips in 1 hour, closer to pattern completion.
