Fxprotrader

NZDUSD Where Is NZDUSD Going Next Week?

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
508 8 29
Price is testing the lower bond of a triangle pattern and soon we are going to have a setup completion. Because of MACD divergence i believe that price will reverse and head up, probably breaking above the corrective pattern. In this case we should wait for a buy setup to form and go long. Otherwise if we have a breakout below the triangle we should sell NZDUSD             for another impulsive move to the down.
Comment: This is not a triangle pattern. It's a wedge! I was describing a couple other ideas at the same time and by mistake a posted this as a triangle..!
Comment: Price broke above the wedge pattern. Keep a closer eye for a buy setup to complete..
Comment: This wedge worked great.. I wait for a correction, and we may have another up move soon.. I will update if any setup forms..
is this a wedge or triangle?
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happypiper pipstrading
looks like a wedge to me
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pipstrading happypiper
if it is a wedge, then it looks like a bullish wedge..
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happypiper pipstrading
I sold @ .669 earlier. The last few weeks it kept bouncing off .67. Finally closed under. Don't think it will last. The next RBNZ meeting is June 9. If they lower the OCR it may dip some more but has bounced back from that over the last year.
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happypiper happypiper
Closed my short. It's early :)
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Fxprotrader pipstrading
Yes that's right.. I just updated..
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Fxprotrader pipstrading
It's a wedge mate, my fault.. I was describing a couple other ideas at the same time and by mistake a posted this as a triangle..!
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pipstrading Fxprotrader
no worries. thanks for the clarification and glad to discuss
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