I just got short the NZDUSD as we've created a pullback into previous structure support which should now act as resistance.
During our complex pullback the market was able to form a bearish advanced bat formation coming into our previous outside return which is what i used as my entry reason for this trade. (This is essentially the inverse of what I mentioned in yesterday's Forex market Preview video when looking at the USDCAD)
Unlike some of the other trend continuation trades I've discussed in the past, i don't expect a high profit potential with this one due to the level of support that rests back down at the $0.70 level
Akil I have to confess that I totally lost my faith in advanced pattern. For the last few months I see over and over again how they fail. Back testing is easy but live, well that´s another story.
Akil_Stokes
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@Makolico, Unfortunately backtesting & demo trading are completely different than live trading. If you've lost confidence then I would certainly recommend that you stop trading right away and take the rest of the year to reset and prepare yourself for 2017